Stephen Cadogan: Government must make it easier for farmers to borrow

EU Agriculture and Rural Development Commissioner Phil Hogan has to be careful not to show any favouritism in his dealings with member states.

But he was nearly twisting the arms of his former Irish government colleagues when he was in Ireland recently to promote European Investment Bank loans for farmers, offering money at 3% over ten to 20 years.

The response from Agriculture Minister Simon Coveney has been no more than a “commitment” to examine the potential for the use of these financial instruments in Ireland’s rural development programme, despite the Commissioner’s enthusiasm for an initiative which he believes has enormous potential for farmers and rural communities throughout Europe.