Mr. Aidan O'Driscoll:

I take the point but the purpose of this is to make it widely available to farmers. The way in which this product is being structured is quite complicated. The Minister has had many discussions with the Strategic Banking Corporation of Ireland, SBCI. A key element is that the State is putting €25 million into this and part of that money is to reduce risk and another part is the interest subsidy. The risk reduction element is being put in by the State. In addition the European Investment Fund, EIF, is taking on some of the risk. That risk reduction should make the banks more flexible in the way they apply the product. We will also be determining that with SBCI. In the very near future we will, with SBCI, work out its finer details, then we will do a tender or call because banks do not have to participate in this, and wait for the banks to indicate their willingness to sign up. We are reasonably optimistic on that front. They will sign up to the detail of the scheme as set out by us and the SBCI. I will bear in mind the points the Deputy has just made. I am aware of the Glanbia fund which is very innovative.