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Government announces extra €160m in supports for Covid hit firms
The Government has announced a new range of additional Covid supports, including a payment to target businesses which are currently ineligible for the Covid Restrictions Support Scheme (CRSS).
As part of the €160 million funding boost announced, €10 million has been allocated for companies developing and producing Personal Protective Equipment (PPE) and equipment being used to battle Covid-19.
The funding, which also includes a €60 million Covid-19 Business Aid Scheme (CBAS) was agreed by Cabinet earlier this week.
The CBAS will cover businesses not covered by the CRSS to assist with fixed costs, with wholesalers, suppliers, caterers and events companies whose income has fallen by 75 per cent or more expected to benefit.
The Sustaining Enterprise Fund will also receive a €90 million injection, with non-repayable grants of up to €800,000 available for eligible manufacturing and internationally traded services companies.
Commenting on the announcement, Tánaiste Leo Varadkar TD said the Government is working to assist businesses through the Covid-19 pandemic and explained how some businesses will benefit: "The CBAS, will help some businesses that aren’t eligible for existing grants, largely due to the fact that the premises they operate from have not been closed to the public.
