INISHOWEN farmers who
are customers of Bank of Ireland may get access to a
€25m special fund set up by the bank to help the
agriculture sector due to the wet summer.
Non-customers are also urged to apply for the fund.
BoI announced the €25m fund specifically to help
agri customers cover extra costs and potential
production losses due to the recent poor weather.
The bank's head of agriculture, Sean Farrell, said:
“We are very aware that many of our agri customers
have been impacted by the level of rainfall
experienced over recent weeks. Many have yet to
secure enough winter feed and the quality of much of
the silage made to date is below what they would
normally achieve.
“Ground conditions in many parts of the country have
forced farmers to re-house livestock. We know that
this will lead to increased feed costs later in the
year in many instances. When the associated drop in
milk production, loss of thrive and damage to crops
are also taken into consideration, there will be
additional working capital funding required on many
farms and we want to help provide that funding where
we can."
Mr Farrell said many farmers would be in need more
cash flow.
“We would ask our customers and indeed non-customers
to contact their local branch if they think they
will need increased cash flow support.
"Their relationship managers can help them work out
a viable solution to help manage short term cash
flow difficulties which may arise." |
