Michael Creed (Cork North West, Fine Gael) | Oireachtas source

The SPCI does not have the necessary network to deliver this loan product. It operates out of an office in Dublin and does not have a branch network. Those in Letterkenny, west Kerry or west Cork who want to access the loan product need access through a local financial institution. The SBCI will put out a call for partners to deliver the scheme. I have spoken to Bank of Ireland, AIB, and Ulster Bank. It is open to others. I was recently asked whether the scheme is open to credit unions - I suspect it is, if they can demonstrate a capacity to deliver the product in a manner that is acceptable to the SPCI. We want these institutions to be involved because they have the required network and existing exposure to and understand of the agricultural lending sector. Let us get the scheme up and running as quickly as possible.

Many tillage farmers have had a very difficult year. Since we last spoke, they have salvaged a lot of crops. Some of it was low yield and there was high moisture. I acknowledge it has been a very difficult year. I have met representatives from the sector and engaged with them in my Department this week. They are quite welcoming of the fact they will have access to this fund, in particular in the context of the TAMS tillage applications that will be available early in the new year. The schemes will work side-by-side in terms of access to finance to enable farmers to invest in projects in the tillage sector.

The Deputy has asked for a specific fund to bail out the sector. That is not permitted under state aid rules. What we are availing of de minimusis to extend the loan facility to the tillage sector.

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