Tuesday, 17 December 2019

Ceisteanna (548)

Aindrias Moynihan

Ceist:

548. Deputy Aindrias Moynihan asked the Minister for Agriculture, Food and the Marine the uptake in the schemes to protect the agri-food industry during the Brexit process; the efforts taken to promote schemes in County Cork; and if he will make a statement on the matter. [53408/19]

Amharc ar fhreagra

Freagraí scríofa (Ceist ar Agriculture)

I have introduced a number of supports for farmers and the agri-food sector to assist in addressing the challenges posed by Brexit.  These include the Agriculture Cash Flow Support Loan Scheme, the Brexit Loan Scheme, the Future Growth Loan Scheme and the Beef Exceptional Aid Measure. 

The uptake of these schemes is as follows:

Title of  Scheme  

Details  

 Uptake to 6 December 2019  

Agriculture Cash Flow Support Loan Scheme

  

Developed in co-operation with the Strategic Banking Corporation of Ireland (SBCI)

  

Funding of  €150m

  

Cash flow support facility, providing farmers with a low cost, flexible source of working capital loan amounts up to €150,000 for up to six years at an interest rate of 2.95%

  

Scheme closed.

Approximately 4,246 applications to the value of €145m

Average loan size of €34,127

  

Average loan period of 41 months

Brexit Loan Scheme

  

Joint DAFM/DBEI/Dept. of Finance/SBCI Scheme

  

Funding of €300m

  

Operable 28 March 2018 to 31 March 2020

  

Loans of €25,000 to €1,500,000 per eligible enterprise

  

Maximum interest rate of 4%, ranging from 1 year to 3 years

  

At least 40% available to food businesses

  

Unsecured loans up to €500,000

822 applications approved

218 to the value of approx. €47.4m have been sanctioned

38 (with a value of €9.56m) relate to food businesses

20 loans to the value of €5,715,000 have been drawn down in Cork as at 16 December 2019

Future Growth Loan Scheme

Joint DBEI/DAFM Scheme

Funding of €300m available since 17 Apr 2019

Available to Irish businesses, including farmers and the agri-food & seafood sectors

Applications submitted through the SBCI since 17th April 2019

  

2,215 applications approved

  

615 loans progressed to sanction at bank level.

  

Total value of sanctioned loans is €116.9m

  

284 (with a value of €32.5m) relate to farmers and to 49 food businesses worth €13.7m.

  

85 loans have been sanctioned in Cork totalling €14,731,000

  

39 of them, to a value of €6,942,000, have been drawn down

Beef Exceptional Aid Measure

  

34,517 eligible applications received.

  

A further 560 applications have been submitted under appeal from applicants that have been deemed ineligible but who have requested to be considered for inclusion in the scheme.

  

Payments commenced in December 2019.

  

The scheme is closed.

  

€78,192,380 in potential payments (not including allocations to the 560 appealed applications)

  

Average payment €2,265