AIB announces €200 million fund to support exporting companies
AIB Exports Outlook Report was recently published which shows that exports account for almost 40% of total SME turnover last year, a total of 65% of respondents expect improved export sales, while 30% plan to export to new markets in 2014. Almost 40% of the SMEs say that staff levels will increase, while close to two in three expect an increase in turnover this year.
To support exporting SMEs, AIB announced a number of initiatives:
- The establishment of a team of 85 Export Finance Specialists located nationwide. These specialists will provide export customers, with a local expert who will provide practical export information, and access to teams of product specialists within Treasury, Trade Finance and Commercial Finance
- The launch of a €200 million SME Export Finance Fund. This will support the provision of multiple export finance products including working capital and loan finance for Irish exporters
- Partnership with DHL to support exporters international logistics requirements to overseas markets. This will include a 50% discount on DHL Express standard tariffs for international shipping for 12 months for all AIB exporting customers.
A copy of the report and other reports in the series are available by clicking here.