Irish business welcomes significant EU funding agreements

July 21, 2020

Ibec, the group that represents Irish business, this morning welcomed the announcement that an agreement had been reached by An Taoiseach and other European leaders on a landmark EU Covid  Recovery Fund and the EU’s Multiannual Financial Framework. 

Ibec CEO Danny McCoy said: “As an open and highly globalised economy, Ireland’s recovery from the Covid pandemic will be shaped by the strength and stability of the wider European economy. This morning’s deal will bring important confidence to the Irish business community during these ongoing uncertain times. 

“This morning’s announcement of an agreed long-term EU budget through to 2027 also brings much welcomed certainty. It is particularly positive to note the commitment to support ambitious investment and research in digital and green transitions, which will present welcome opportunities for Ireland. Such transitions are a central pillar of the Irish business community’s agenda and if managed correctly, will determine our future economic success and well-being through enabling further innovation, quality jobs, better services and the delivery of other policy objectives.” 

Mr. McCoy added that it was positive to note the announcement of a dedicated fund aimed at supporting those economies most impacted by Brexit. This will be particularly important for many businesses in key sectors of the Irish economy which remain most at risk to a disruptive Brexit.