FDI welcomes €200m capital investment scheme

Food Drink Ireland (FDI), the Ibec group representing the food and drink sector, today welcomed the announcement by the European Commission of State aid approval for a €200m capital investment scheme in agri-food processing and marketing.

Paul Kelly, FDI Director, said: “FDI has repeatedly called for exceptional State aid supports as we face the likelihood of a hard and disruptive Brexit, and a fracture of the Single Market. The Irish agri-food and drink sector is uniquely exposed, presenting a compelling case for exceptional State aid support to minimise the economic fallout and job losses.

“The focus must be on maintaining markets in the UK, developing other markets and ensuring that in the domestic market, companies remain competitive against imports. The scheme must introduce investment aids to support Irish agri-food companies as they invest in enabling technology, plant renewal and expansion, refinancing, market development and innovation to regain competitiveness and must apply across the full range of Annex 1 products.”

FDI looks forward to working with Government and Enterprise Ireland to ensure the scheme meets these objectives and is operational as soon as possible.

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