MEP’s call on timeline for financial instruments

A member of the European Parliament yesterday urged the Department of Agriculture, Food and the Marine to put forward a timeline for implementing the financial instruments in the Rural Development Programme.

Ireland South MEP Sean Kelly said this would be a “vital boost” to young farmers, in particular, who are facing significant difficulties with high interest rates.

“There is a real need to improve access to finance for farmers by way of cheaper loans and this can be done by modifying the Regional Development Programme to set aside money for a guarantee fund, lowering the risk for lenders,” he said.