AIB has announced €500m in funding for its agricultural fund and the ramping up of its advisory team for the farming sector.
The fund is designed to support the ongoing development of the farming sector by providing finance for capital expenditure, working capital and asset finance.
The fund is also available to support farmers who wish to refinance debt from banks that are exiting the Irish market and is supported by discounted EIB funding for eligible projects.
AIB also announces that it has doubled its agri advisor team to twelve, supporting customers on the ground.
The Minister for Agriculture, Food and the Marine, Simon Coveney, welcomed the announcement.
He said: “This funding comes at a crucial time, as farmers make the investments needed to fuel the smart, green growth envisaged in Food Harvest 2020.”
The Minister also welcomed the fact that AIB is building capacity in the sector by strengthening its agri advisor team.