Kieran Coughlan: EU’s plan for cheaper farm loans

Good news may be on the way for us farmers, thanks to the recent Memorandum of Understanding between the European Commission and the European Investment Bank (EIB).

This agreement paves the way farmers to benefit from lower interest rates for farm development loans.

The support will come through a credit guarantee scheme, whereby farm and other rural businesses should be able to access finance easier and cheaper, where the project is partially guaranteed by the EIB.