The strong uptake in the low-cost loan scheme is a positive development, albeit that the scheme merely brings interest rates into line with what farmers across the EU are being charged.
In our special Focus supplement, Jack Kennedy compares bank interest rates charged to farmers around the world. He finds that Irish farmers looking to borrow long term for an on-farm investment are incurring the highest interest rates in Europe and some of the highest anywhere in the world.
At the current rates, an Irish farmer borrowing €100,000 over a 10 year period will pay an additional €17,000 to the bank when compared with his Dutch counterpart.
In many cases, this will be the difference between a project being viable and non-viable.
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Meanwhile, the strong uptake in the low-cost loan scheme is a positive development, albeit that the scheme merely bring interest rates into line with what farmers across the EU are being charged.
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Title: Highest interest rates in the world
The strong uptake in the low-cost loan scheme is a positive development, albeit that the scheme merely brings interest rates into line with what farmers across the EU are being charged.
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In our special Focus supplement, Jack Kennedy compares bank interest rates charged to farmers around the world. He finds that Irish farmers looking to borrow long term for an on-farm investment are incurring the highest interest rates in Europe and some of the highest anywhere in the world.
At the current rates, an Irish farmer borrowing €100,000 over a 10 year period will pay an additional €17,000 to the bank when compared with his Dutch counterpart.
In many cases, this will be the difference between a project being viable and non-viable.
Meanwhile, the strong uptake in the low-cost loan scheme is a positive development, albeit that the scheme merely bring interest rates into line with what farmers across the EU are being charged.
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