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

Our track record in the context of the objectives set out in Food Wise 2025 strategy is strong. We had a €150 million loan scheme for farmers lending at 2.95%, we had the €300 million loan scheme and we are working on the detail of the next scheme which will make funds available to farmers for investment purposes. It is a significant start. There are a lot of moving parts in this. It is not solely an issue of the Department developing the product. A number of critical partners are involved, including parties with which we are negotiating at EU level. Those negotiations are complex and protracted and getting all parties to move on the design of the scheme simultaneously is challenging. In due course, this will also involve the participation of financial institutions in Ireland to deliver the product. I have always said it would be the second half of 2018 and I am still working to that deadline. I would like to have it as early as possible but I do not see it happening in the coming weeks. However, we are working on the detail.

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