A £10 MILLION fund to
improve farm business-es has opened for applications and will focus on dealing with higher input costs on farms, Agriculture Minister Edwin Poots has announced.
The fourth tranche of Tier
1 of the Farm Business Improvement Scheme – Capital (FBIS-C) will support smaller scale investments to improve the sustainability of farm businesses. The scheme will
support the purchase of equip-ment and machinery costing from £5,000 to £30,000 from a list of eligible items.
Announcing the opening of applications, Mr Poots said: “I am pleased to announce the re-opening of Tier 1 FBIS Capital.
“In what has been a very challenging year for our farmers, this fourth tranche is a timely boost for agriculture and horticulture with up to
£10 million allocated for pro-jects.
“This will build upon the success of the previous tranches of Tier 1, which to date has provided £26 million grant support to over 4,000 farmers and growers.”
Mr Poots is seeking to assist farm businesses in dealing with the impacts of higher input costs.
He said: “I want to encourage applications for equipment with the potential to help address increased costs for feed, fuel and fertiliser.
“For that reason, the item marks will be increased for a number of items in this tranche. This includes equipment for
grassland management, silage
quality, feed efficiency, pre-cision farming and related activities as set out in the scheme guidance.”
Upper Bann MP Carla Lock-hart has welcomed the opening of the scheme.
She said: “Farmers across Northern Ireland will welcome this opportunity for financial support towards investment.
Whilst this still represents a significant financial commit-ment from farmers, which should always be carefully considered, it is important that government continue to support the sector to become more efficient. This is all the more important at a time when input costs are at levels that are placing huge pressures on farmers.
“The Farm Business Improve-ment Scheme is offering sup-port of between £5,000 and £30,000 towards items they have outlined as eligible.
“With a focus on grassland management, silage quality, feed efficiency and precision farming, it is certainly shaped towards efficiency and environ-mental considerations.”
Applications for FBIS Capital Tier 1 Tranche 4 must be made by the closing date, 4pm on Friday, November 11, 2022.
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