Main ‘agri’ banks seek to reassure farmers struggling amid fodder crisis

Ireland’s three main domestic “agri” banks have confirmed that their doors are wide open to farmers struggling to cope with the ongoing fodder crisis.

AIB has urged any farmers facing weather-related cashflow difficulties to contact their local branch. Bank of Ireland and Ulster Bank have also adopted similar lines. However, no bank has rolled out a special ‘fodder crisis’ product offering a set low interest rate.

AIB agri strategy manager Anne Finnegan said: “We don’t have any new deal as such, but we will talk to farmers on an individual basis to get an understanding their unique situation. That might mean extra working capital, or interest-only repayments on a loan, depending on their circumstances.”