Oireachtas Joint and Select Committees

Tuesday, 21 March 2017

Select Committee on Agriculture, Food and the Marine

Estimates for Public Services 2017
Vote 30 - Department of Agriculture, Food and the Marine (Revised)

4:00 pm

Photo of Michael CreedMichael Creed (Cork North West, Fine Gael)
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It would have been on the basis of SBCI's engagement with the banks, discussing their profile of agricultural lending and how we could engineer that to be more affordable for farmers and looking at subsidising the interest rate, unsecured credit, which is a cost, as opposed to having security for credit. The €25 million went into ensuring that the scheme was more competitive than anything already in place. We will get the detailed breakdown from the banks and then give the Deputy the full picture of it.