I and my Department are in regular contact with farm bodies, various national banks and the Banking Federation concerning the availability of credit to farmers. I am aware that, like many other sectors, farmers are finding it difficult to get credit due to the strict assessments introduced as a result of the global financial crisis. The banks do provide information online, via the Irish Banking Federation, as to the type of information that they require when making a decision on a loan request in the agriculture sector, however, farmers who are not satisfied with the service provided by their banks can ask for an internal review by the relevant bank and if they are still not satisfied can apply to the credit review office to have their case reviewed. Despite concerns, a relatively small number of cases from the Agri-Food sector have come before the Credit Review Office.
Over the last year some of the banks have been involved in organising information sessions and conferences to explain the credit facilities available in the sector and just this month one of the pillar banks announced its intention to expand its lending activity in the agri-sector. Nonetheless, I will continue to meet with relevant parties, including the Irish Banking Federation, on a regular basis to discuss all credit-related issues.
