Robinson & McGuinness welcome Ulster Bank annoucement

First Minister Peter D. Robinson MP MLA and deputy First Minister Martin McGuinness MP MLA have welcomed today’s announcement by the Ulster Bank that it will make available an additional £250million in funding for businesses here in 2009.

The funding has been made available to the Ulster Bank as part of a UK wide £3billion package by the bank's parent company Royal Bank of Scotland (RBS) and will be delivered through a package of funding choices with effect from 5 February 2009

Mr Robinson said: “This announcement comes as a tremendous boost to the confidence of local businesses in Northern Ireland. Many businessmen and women have struggled to gain access to finance over the last year and this injection of funding will enable many people to get back to what they do best, running their businesses.”

Mr McGuinness said: “In a meeting with the Ulster Bank Chairman Sean Dorgan earlier this week, we were informed of the bank's plans to support local business and we are confident that local businesses will benefit considerably. The Executive will be monitoring all of our major local banks closely to ensure that support is given to Small and Medium Sized Enterprises (SME's) during this difficult time.”

The announcement comes following the first in a series of meetings with local banks chaired by the First Minister and deputy First Minister. The Ministers will also meet with the Secretary of State for Business, Enterprise & Regulatory Reform, Rt. Hon. Lord Mandelson at which a range of issues affecting business will be discussed.

Notes to Editors:

1. Media enquiries to OFMDFM Press Office on 028 9052 1905 or 028 9052 1840. Out of office hours please contact the Duty Press Office via pager number 07699 715 440 and your call will be returned.