BANKS MUST STAND BY THEIR FARMING CUSTOMERS DURING WEATHER PROBLEMS

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BANKS MUST STAND BY THEIR FARMING CUSTOMERS DURING WEATHER PROBLEMS
18 Jul 2012

BANKS MUST STAND BY THEIR FARMING CUSTOMERS DURING WEATHER PROBLEMS

Farm Business & Credit

IFA President John Bryan has urged the banks to make cashflow provision for the extra costs and production losses on farms associated with the poor weather conditions this summer.
John Bryan said, “Farmers across the country have had to re-house cattle and buy in extra feed. They will need extra working capital in the months ahead because of these weather-related problems, and the banks must facilitate their farming customers in overcoming the cashflow difficulties created by this situation.”

The IFA President acknowledged that AIB has already asked its customers to contact them to discuss their situation. “I would urge the other banks to follow suit and engage with farmers as soon as possible. The difficulties experienced because of the weather situation are leading to frustration among farmers who are anxious to get their work done when the weather picks up. It is important that they will not have to worry about their credit situation also.”

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