Charlie McConalogue (Donegal, Fianna Fail) | Oireachtas source

It is a good scheme and I hope it will help drive down the interest rates in the market. There will be lessons to be learned from it and engaging with the banks will be important.

The Minister, however, could give more clarity in response to my question. The Department, with the SBCI and the banks, structured and put this scheme together. The perception at the outset was that it would be available to farmers for terms of up to six years. The Minister has outlined that the €25 million ensured the cost of that lower interest rate for terms of up to six years.