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Minister for Agriculture Martin Heydon and Minister of State Noel Grealish announced the second six-year phase on Thursday at an event hosted at Teagasc Moorepark.
Cultivate is an initiative of a group of credit unions across 175 locations in Ireland that provides short- to medium-term loans built specifically for the growing needs of its farming members.
For a small open economy, it makes sense to encourage production in sectors where there is a prospect of domestic and export sales on advantageous terms.