The EU Commissioner for Agriculture Phil Hogan has said he is working on a package to encourage more young people to enter farming.
Speaking in Brussels the former Environment Minister said that he wants to secure low interest loans for young farmers who take over the family land.
Commissioner Hogan said that longer term loans would give young farmers more security on their investment.
“We are in negotiations with the European Investment bank and one of the streams of investment that we want to agree with them is a way in which young farmers, if they wish to invest after taking over their farm, that they will be able to have longer term loans at reasonable rates of interest,” Mr Hogan said.
“That gives them more certainty and less volatility in relation to their investment.”