asked the Minister for Agriculture the number of farmers to date who have qualified for the reduced interest scheme for farmers in severe financial difficulty nationally and in County Cork; the number who will not qualify nationally and in County Cork; the estimated cost to the Exchequer; and the reason for the delay in processing applications.
Written Answers . - Farmers' Reduced Interest Scheme .
897.
: The processing of applications under the reduced interest scheme for farmers in severe financial difficulty is the responsibility of the associated banks and the ACC. I understand that approximately 1,600 applications have been deemed eligible under the scheme to date. Separate data for County Cork are not available.
It is estimated that the cost of the scheme to the Exchequer over three years will be approximately £30 million.
Due to the complex nature of the scheme processing of applications is necessarily slow and in the circumstances progress is as good as could be expected.