Dáil
‹ Ceisteanna—Questions. Oral Answers. - Working Capital for Agriculture. Farmers’ Borrowing Levels
Summary
Treacy asks how much farmers’ borrowing has fallen over five years. Deasy lacks the figure, denies special lending restrictions and notes that some exchange-guarantee loans are available at lower rates.
Is the Minister aware that there is a major shortage of funds available to Irish farmers? Over the past five years what was the percentage drop in the level of borrowings by Irish farmers?
Comment on this
I have not got that information. The financial institutions are not operating any special restrictions on funds for working capital for agriculture. Some funds are still available at low interest rates, that is, at 10 per cent or 11 per cent, from a Euro-currency loan known as the exchange guarantee scheme for loans.