IFA urges banks to alleviate cash-flow difficulties by providing loans

BANKS were urged yesterday to assist the difficult cash-flow situation on farms by providing bridging loans at competitive interest rates.

Irish Farmers Association president Padraig Walshe made the call following the European Commission decision to increase the advance element of the single farm payment this year to 70%.

“Farmers have very severe cash-flow problems this summer, following an expensive winter and spring, and very low product prices particularly for milk,” he said.