Michael Creed (Cork North West, Fine Gael)
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I am satisfied that in the very extensive engagement we had originally with the SBCI and then through it with the pillar banks the product we delivered in all its terms and conditions was the best that could be negotiated for €25 million in terms of delivering it cost-effectively to farmers. We await the experience of the drawdown and will learn the lessons of the scheme if there are lessons to be learned.

A maximum of six years is in the terms and conditions but it was always envisaged that there would be terms of fewer than six years.