Senator Frank Feighan has said that a newly-launched low-cost loan scheme will be extremely beneficial for farmers in Roscommon, particularly to help them mitigate against the impact of Brexit.
The ‘Agri Cashflow Support Loan Scheme’, which was developed in co-operation with the Strategic Banking Corporation of Ireland (SBCI), was launched by Fine Gael Minister for Agriculture, Michael Creed on Tuesday. Senator Feighan: “This is going to be really beneficial to farmers here who are looking for income stability in a period of price volatility due to Brexit. Roscommon farmers will be able to avail of low-cost interest rate loans of 2.95%, which represents excellent value compared to market rates.
“A major priority for Fine Gael in Government is to assist farmers in mitigating against the impact of Brexit.
“AIB, Bank of Ireland and Ulster Bank will distribute the loans, making €150 million available to farmers throughout Ireland. This is supported by €25 million being provided by the Department of Agriculture, Food and the Marine, including €11 million in EU exceptional adjustment aid.”