Businesses and organisations worst hit by flooding during Storm Babet could get up to €100,000 in financial aid under a plan Minister for Enterprise Simon Coveney will bring to Cabinet today.
The exceptional humanitarian scheme will be administered by the Department of Enterprise Trade and Employment through the Irish Red Cross. It is expected that up to 150 premises including businesses along with sporting and community facilities in Midleton, Co Cork, and other areas will apply for the funding.
The current scheme where payments are capped at €20,000 will remain in existence and it will likely be sufficient for some businesses where the damage was less severe. While Microfinance Ireland will offer low-cost loans of up to €25,000 to help traders get back up and running quickly.There is also going to be a significant change to the rules around Social Protection payments to repair damaged homes. Minister for Social Protection Heather Humphreys will extend the income thresholds to allow more people have the full repair costs covered. Minister for Sports Thomas Byrne has said that his department is willing to make one-off special payments to sport clubs impacted by Storm Babet. The money would be available to clubs if they do not qualify for other schemes or are not insured and it would aim to quickly restore playing facilities. Minister for the Environment Eamon Ryan will seek Cabinet approval for the introduction of a new low-cost Energy Upgrade Loan Scheme. The €500 million scheme, which is being underpinned by the European Investment Bank Group, will aim to help homeowners make their homes warmer and cheaper to run. People will be able to borrow from €5,000 to €75,000 at interest rates that will be significantly lower than those currently available in the market.While Tánaiste Mícheál Martin will ask Government to agree a new framework for communicating the Global Ireland strategy to international audiences.It will use the Ireland.ie website as a central resource for the Government's international engagements.
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