Minister for Agriculture, Food and the Marine, Charlie McConalogue announced on Wednesday that granting of approvals has commenced for all qualified applications received under tranche 22 of the Targeted Agricultural Modernisation Scheme (TAMS).
Tranche 22 closed for applications on 22 July, with the current tranche opening for applications on 23 July and remaining open until 5 November 2021. Tranche 24 will open on 24 November.
Investments under tranche 23 will be costed at the higher rate, introduced following the Department’s review of TAMS costings, which was carried out in light of a significant increase in the cost of building materials.
The Minister has said that his Department’s priority is to continue to approve and issue payments for completed investments. Average payment rates have been running in the region of €1.2m per week, with the latest payment running significantly higher at €2.6m.
Total payments of over €305m have now issued in respect of over 22,172 approved applications for completed investments since the opening of TAMS II in 2015.
“I am delighted that this week’s TAMS payments amounting to €2.6m brings to €43.4m the total payments made to-date in 2021, in respect of TAMS II investments.
“With over 43,500 approvals issued since its launch, there are a considerable amount of outstanding approvals out there with farmers and I would urge them to complete the investment work and apply for the payment as soon as possible to facilitate the prompt issuing of payments,” the Minister said.