Belfast Telegraph

Customers boosted by doubling of agri fund


Bank of Ireland UK has pledged to double its Agri Business Fund to £100m following the launch of a plan aiming to boost the food and drink industry's turnover to £7bn by 2020.

The fund, open to both new and existing customers, is available to those who are involved in agri-food supply chain, ranging from primary producers, processors, retailers and other agri-food related businesses.

Two weeks ago the Agri-Food Strategy Boards said it hoped to see the industry's turnover growing 60% with employment rising to 115,000.

The initial £50m agri-fund that was announced 18 months ago, aimed at business expansion, diversification projects and working capital needs.

Bank of Ireland UK has also announced a donation of £15,000 to Rural Support, the charity that supports farmers and rural families facing a range of difficulties, including those brought about by the severe weather conditions.

Ciaran McGivern, head of business banking Northern Ireland with Bank of Ireland UK , said the agri-food sector is a major economic driver which contributes substantially to every area of Northern Ireland.

"Bank of Ireland UK is determined to play its part in supporting the growth of a sector which holds so much potential and we are delighted to make these funds available for investment at all levels of the agri-food supply chain," he said.

William Thompson, agri manager for Bank of Ireland UK, added: "Over the course of the agri-show season, Bank of Ireland UK staff will be on the ground across Northern Ireland to talk to producers and processors about the opportunities for growing the sector."

Belfast Telegraph


From Belfast Telegraph