Hopes fading for cheap EIB farm loans as Simon Coveney runs out of time

The EIB is the EU’s non-profit long term lending institution. Set up in 1958 under the Treaty of Rome, it works with other EU institutions to implement EU policy.

The hope of cheaper European Investment Bank guaranteed loans for farmers has receded somewhat in Ireland, with Agriculture Minister Simon Coveney saying it is unlikely his Department will have proposals ready in time for an EU review of Ireland’s 2016 Rural Development Programme.

Establishment of a European Investment Bank (EIB) loan facility for the agri-food sector remains a top priority for EU Commissioner for Agriculture and Food, Phil Hogan.