Dáil Éireann Debate, Tuesday - 14 February 2017
586. Deputy Brendan Griffin asked the Minister for Agriculture, Food and the Marine if equine will be included in the low-cost agricultural loan scheme; and if he will make a statement on the matter. [7263/17]
Amharc ar fhreagraI was pleased to announce the launch of the “Agriculture Cashflow Support Loan Scheme” on 31st January. One of my priorities has been to address the impact of the change in the sterling exchange rate and lower commodity prices in some sectors, which have caused cash flow difficulties for farmers. The Scheme, which was developed in co-operation with the Strategic Banking Corporation of Ireland (SBCI), makes €150 million available to farmers throughout Ireland at interest rates of 2.95%. Distributed through AIB, Bank of Ireland and Ulster Bank, it provides farmers with a low cost, flexible source of working capital and will allow them to pay down more expensive forms of short-term debt, ensuring the ongoing financial sustainability of viable farming enterprises.
The loans will be available to all livestock farmers, tillage farmers, horticulture producers and others involved in primary agricultural production. The Department is contributing €25million in total, which includes €11 million from the EU and €14 million in national funding.
The specific legislation which provides for the EU support (Commission Delegated Regulation (EU) 2016/1613 of 8 September 2016 providing for exceptional adjustment aid to milk producers and farmers in other livestock sectors) defines “other livestock sectors” as “beef and veal, pigmeat and sheepmeat and goatmeat sectors”. Equine is not included. However it should be noted that where equine is part of a mixed enterprise, an applicant may apply for a loan to support its non-equine activities.
