IFA urges banks to make cashflow provisions as weather causes chaos

Banks must make cashflow provision for the extra costs and production losses on farms associated with the poor weather conditions this summer, IFA president John Bryan has said.

“Farmers across the country have had to re-house cattle and buy in extra feed. They will need extra working capital in the months ahead because of these weather-related problems, and the banks must facilitate their farming customers in overcoming the cashflow difficulties created by this situation,” he said.

In response, AIB has invited any farmers experiencing, or who anticipate, cash-flow difficulties caused by the weather to contact their branch. AIB head of business banking John Webb said the bank “is anxious to do what it can to assist its agri-customers”.