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Saturday 20 October 2018

Payments worth over €185.6m issue under 2018 Areas of Natural Constraints Scheme

The Future Growth Loan Scheme which it hopes will be in operation in early 2019 makes up to €300m of loans available with a term of 8-10 years. (stock photo)
The Future Growth Loan Scheme which it hopes will be in operation in early 2019 makes up to €300m of loans available with a term of 8-10 years. (stock photo)
Ciaran Moran

Ciaran Moran

Payments worth over €185.6 million under the 2018 Areas of Natural Constraints Scheme and Areas of Specific Constraint (Islands) Scheme, have commenced issuing this week to almost 77,000 farmers.

The €185.6m issuing in the first tranche of payments in 2018 is significantly increased on the equivalent 2017 figure of €160m. 

In addition, the number of farmers being paid in this first tranche has increased from 75,000 in 2017 to almost 77,000 this year.

Minister for Agriculture Michael Creed said he is conscious of the many challenges faced by farmers in the past year due to adverse weather conditions and other external factors.

"These payments represent a timely and significant financial boost for farmers and for the wider rural economy.  My Department will continue to process, as a matter of urgency, all remaining cases for payment as they meet scheme criteria.”

The Minister also noted that, further to his securing an additional €25 million for the 2018 ANC budget, farmers will receive increased payments under the Scheme this year. 

“These increased figures underscore my determination to maximise payments to farmers at the earliest possible time. 

"The figures also highlight the benefits for farmers in terms of the more efficient processing of payments following the move to 100% online applications in 2018 under the ANC and BPS schemes.”

Concluding, the Minister also confirmed that arrangements are on target to facilitate payment of the advance of 70pc under the Basic Payment Scheme with effect from 16 October 2018.

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