FDBusiness.com

Bank Of Ireland announces E200m agri-food fund

 Breaking News
  • Carlsberg Group Upgrades Full Year Operating Profit Outlook Carlsberg Group has delivered organic operating profit growth of 17.7% for the first half of 2019 with reported growth of 18.2% to DKr 5.17 billion (€693 million). Organic net revenue growth was 4.2% and on a reported basis net revenue rose by 6.5% to DKr32.99 (€4.42 billion). Operating margin improved by 160bp to 15.7%. Reported net [...]...
  • Diageo Forms New Rum Joint Venture Diageo and Corporación Cuba Ron, a leader in the production of premium Cuban rums, have created a joint venture – Ron Santiago. The joint venture will have exclusive global distribution rights to Santiago de Cuba, a premium Cuban heritage rum brand. Globally, premium and above rum segments are growing ahead of the category overall, with premiumisation [...]...
  • Stirring Times For US Yogurt – Innovation is Vital in a Changing Consumer Environment Over half of all U.S. consumers now buy yogurt as part of their typical grocery basket, according to a new report from Innova Market Insights, but their habits appear to be evolving. Convenience themes are becoming increasingly important, for example, with 17% of consumers naming this as a significant choice factor in 2018, which is [...]...
  • FrieslandCampina Significantly Expands its VLOG Production Due to the sharp increase in demand in Germany, FrieslandCampina is increasing the number of participating dairy farms that supply VLOG milk from 400 to more than 600. All VLOG milk produced by Dutch FrieslandCampina dairy farmers is used to make cheese for the German market. VLOG (Verband Lebensmittel Ohne Gentechnik) is a German association responsible [...]...
  • English Food Manufacturers Sign Up to Made Smarter Support A number of food manufacturing firms in the North West of England have signed up to a business-led programme which aims to use digital technology to boost growth and success. By implementing advances in data analytics, Artificial Intelligence (AI), Augmented Reality (AR), Industrial Internet of Things (IIoT), 3D-printing and robotics, firms can enhance their profitability [...]...

Bank Of Ireland announces E200m agri-food fund

June 01
13:54 2011

Bank of Ireland today announced a new E200m Agri Farm Investment Fund dedicated to investment in the agricultural and food sector.

The fund, which is open to new and existing customers, is available to those who are involved in agri related SME businesses, ranging from farmers to food related businesses.

It is designed to finance new investment requirements to support the growth objectives as set out in the Food Harvest 2020 Report.

The new fund, announced to coincide with the Institute of International and European Affairs (IIEA) conference: “A Flavour of the Future – Challenges for Irish Agri-food in the Global Marketplace, is available for investment in a wide variety of purposes including the purchase of machinery and land, upgrading housing and other facilities, the construction of farming buildings and for purchasing stock.

In the first five months of this year, Bank of Ireland Business Banking received almost 7,000 applications for credit totalling just over E200m from those operating in the primary industries of agriculture, forestry and fishing, it said.

It added that 85pc of all applications received were approved.

Bank of Ireland Business Banking currently lends over E1bn to the sector in Ireland.

“Agriculture remains a key sector for the Bank and indeed the recovery of the Irish economy. In recent months we have seen a general increase in the amount of credit approved for those operating in the primary industries of agriculture, forestry and fishing when compared to the same period last year. This is as a result of a number of factors including an increase in land transactions particularly in the dairy sector as well as a higher level of applications coming through from agri-food business owners looking to expand. We are committed to ensuring that the appropriate funding is in place, to support all viable farming enterprises so they can participate and avail of such growth opportunities,” said, Mark Cunningham, Managing Director, Bank of Ireland Business Banking.

About Author

colin

colin

Related Articles

Food & Drink Business Conference & Exhibition 2016

Upcoming Events

  • September 11, 2019Packaging Innovations & Luxury Packaging London 2019
  • October 1, 2019PPMA Total Show
  • October 17, 2019Future Food-Tech
  • November 18, 2019Plastics Caps and Closures Conference 2019
AEC v1.0.4

find food jobs

The Magazine

F&D Business Preferred Suppliers

New Subscriber

Subscribe Here



Advertisements