Charlie McConalogue (Donegal, Fianna Fail) | Oireachtas source

The way this works is that because the farmer is availing of a lower interest rate, part of the cost of that interest rate is made up by the SBCI. Ultimately, the farmer is paying back less because the SBCI is making a paying to the banking institution. While the farmer will be repaying the loan, it will be at a lower interest rate because the additional interest that would have applied has been covered by the SBCI.