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Concern is growing that the next financial instalment for the Future Growth Loan Scheme (FGLS) is being kicked down the road.
An additional €500m for the scheme was announced at the start of June but has been dogged by legislative delays.
The Department of Agriculture has secured €20.4m as its contributory seed money from the Department of Public Expenditure but an amendment to legislation will have to be passed before the full €500m can be secured from the European Investment Bank Group.
Minister for Trade Leo Varadkar said that legislation was progressing at the start of July, but money for the scheme has still not been made available to farmers.
The Strategic Banking Corporation of Ireland told the Irish Farmers Journal that there would be an announcement shortly in regard to the scheme but some farmers are understandably nervous, given they were forced to wait almost 18 months for the first tranche of the FGLS after the initial announcement in 2017.
It is expected that up to €200m of the next tranche will be set aside for farmers, who snapped up the first tranche quickly.
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