Ireland Doubles Growth and Sustainability Loan Scheme to €1 Billion Through June 2029

The scheme’s expansion adds €500 million in lending capacity, building on a partnership between SBCI, the EIB Group, government departments and participating finance providers.

Ireland's Growth and Sustainability Loan Scheme is doubling from €500 million to €1 billion, giving businesses more access to affordable, long-term finance for expansion, innovation and environmental improvements. The announcement from the European Investment Bank Group, Irish Government and Strategic Banking Corporation of Ireland (SBCI) extends the scheme until 30 June 2029.

The additional funding responds to strong demand from small and medium-sized enterprises (SMEs), including agricultural businesses, with around 2,000 businesses already supported since lending began in September 2023. The original €500 million allocation is now substantially deployed.

Strong Demand Drives Another €500 Million in Funding

The scheme's expansion adds €500 million in lending capacity, building on a partnership between SBCI, the EIB Group, government departments and participating finance providers.

SBCI manages and delivers the scheme in cooperation with the Department of Enterprise, Tourism and Employment and the Department of Agriculture, Food and the Marine. Its role as Ireland's National Promotional Institution includes addressing financing gaps that can limit smaller businesses' ability to invest.

SBCI Chief Executive Colin Moran said demand reflected the ambition and confidence of Irish SMEs and agri-businesses, with the increased capacity allowing more firms to invest in growth, productivity and sustainability.

EIB Vice-President Ioannis Tsakiris described the expansion as "a major boost for Irish enterprise," pointing to the opportunities for businesses to expand, innovate, reduce emissions and build resilience.

Green Investment Remains a Core Priority

At least 30% of the scheme's lending volume will continue to target environmental sustainability, maintaining a dedicated focus on projects such as energy efficiency, renewable energy and climate action.

Eligible green investments can receive additional interest rate discounts, making financing more attractive for businesses considering improvements that reduce their environmental impact.

The scheme connects these environmental priorities with practical business needs, supporting investment in more sustainable operating models alongside productivity and competitiveness.

Enterprise Minister Peter Burke said the increase in both funding and duration would give businesses greater confidence to make long-term investments, innovate and pursue opportunities in domestic and overseas markets.

PTSB Chief Customer and People Officer Ger Mitchell highlighted businesses' growing recognition of the commercial opportunities associated with a more sustainable economy, alongside the importance of reducing environmental harm.

Farmers and Food Businesses Gain More Investment Options

Farmers, foresters, fishers and food businesses are among those the expanded scheme is intended to support, reflecting continuing demand for affordable investment finance across the agricultural and food sectors.

Eligible borrowers can access unsecured loans of up to €500,000, a feature Agriculture Minister Martin Heydon identified as particularly valuable for investment in productivity, climate adaptation and environmental sustainability.

The additional finance is intended to help these businesses adapt their operations, become more resilient and contribute to Ireland's climate and food security ambitions, including those outlined in Food Vision 2030.

The scheme builds on a wider financing relationship between the EIB Group and SBCI. Since 2014, that partnership has backed approximately €1.7 billion in investment supporting Irish businesses and agriculture.

Through this cooperation, the European Investment Bank and European Investment Fund have helped widen access to lower-cost, longer-term finance, supporting business growth and the creation and retention of jobs in local communities.

Five Finance Providers Will Deliver the Expanded Scheme

The expanded scheme will be available through AIB, Bank of Ireland, PTSB, Close Brothers and Finance Ireland, offering eligible businesses more favourable terms than those typically available through standard commercial lending.

According to the announcement, AIB, Bank of Ireland and PTSB reopened for new applications following the expansion. Close Brothers and Finance Ireland were expected to begin accepting applications in the following weeks.

AIB said customers could apply through its SBCI lending form, with funding available for growth, resilience and environmental sustainability. Bank of Ireland encouraged SMEs to consider how the scheme could support investment and innovation, describing these activities as important to Ireland's economic resilience.

The extension to June 2029 gives eligible businesses more time to plan substantial projects and seek finance suited to longer-term investment. Its practical value will be measured in the expansion, modernisation and environmental improvements that businesses can deliver with the additional funding.