Saturday 04 August 2012
Bankers and farmers
Bank of Ireland has set aside €25m to help farmers cover extra costs and potential production losses as a result of the recent poor weather.
Sean Farrell, head of agriculture at Bank of Ireland, said: "We are very aware that many of our agri customers have been affected by the level of rainfall experienced over recent weeks.
Many have yet to secure enough winter feed and the quality of much of the silage made to date is below what they would normally achieve.
"Ground conditions in many parts of the country have forced farmers to re-house livestock. We know that this will lead to increased feed costs later in the year in many instances.
"When the associated drop in milk production, loss of thrive and damage to crops are also taken into consideration, there will be additional working capital funding required on many farms and we want to help provide that funding where we can."
They ask customers to contact their Bank of Ireland branch if they think they will need increased cash flow support.
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