Small and medium sized firms here could need up to €5.7bn in liquidity supports over the coming months as a result of the Covid-19 crisis.
According to a new paper from the Central Bank, the policies to contain the spread of the virus have placed a temporary block between the consumption demands of households and the supply capacity of firms in many sectors.
This shock will mean that a number of companies will need some form of liquidity supports to ensure that they are in a position to reopen when the restrictions are relaxed, it claims.
The bank adopted a range of scenarios and calculated what level of supports may be required over a three month period. "We estimate that non-agricultural SMEs in Ireland will need between €2.4bn and €5.7bn