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Macra president James Healy welcomed the new €1bn European Investment Bank (EIB) loan fund, though he underlined that only 10% was guaranteed for young farmers.
“Pressure must now be put on the banks to match the money and actually facilitate this product,” he said.
Healy warned that the current Government-supported Future Growth Loan Scheme was supposed to make unsecured finance available, but conditions introduced by the banks mean that “we’re still losing out”.
Flexibility
Macra’s president called for flexibility, with both unsecured and secured finance for investment or working capital.
New approaches such as stocking loans where the stock is put up as collateral could be explored, as seen in other countries, he added.
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