Farmers challenge AIB executive’s claims over availability of credit

FARMERS yesterday challenged a senior AIB executive’s claim that the bank is willing to lend money to farmers.

AIB head of strategy Michael Dowling told attendees at yesterday’s second day of the Irish Farmers’ Association (IFA) annual general meeting in the Irish Farm Centre in Dublin that credit facilities are available to farmers with strong farm expansion and restocking plans, albeit at higher rates than in previous years.

However, several IFA members said AIB would not provide loan facilities to small groups of farmers, arguing that the bank was far more open to dealing either with individual farmers or companies. Members also queried why interest rates on loans varied inexplicably from one farmer to another.