Brussels (Brussels Morning Newspaper) – The European Investment Bank (EIB) announced €3 billion in financing for agriculture, fisheries, and bioeconomy, supporting SMEs, and young, and female farmers.
President of the European Investment Bank (EIB) Nadia Calviño has revealed a €3 billion financing scheme for forestry, agriculture and fisheries across the European Union along with steps to support farm insurance. European Investment Bank loans will be corresponded by other participating financial organisations. The step will unlock long-term investments of nearly €8.4 billion for the bioeconomy area.
As reported by the European Commission, the package labels the most extensive EIB-backed financing endeavour for the European Union agriculture sector and will surround small and medium-sized enterprises (SMEs) including mid-caps. The endeavour will run over the next three years and the foremost loans are predicted to be inscribed at the beginning of next year.
What role do young and female farmers play in this plan?
Moreover, a percentage of the loans will be reserved for young or fresh farmers because they normally have more problems getting standard bank services for finance. The assistance will also impact women farmers to overwhelm gender inequality in the agriculture sector. It will also support green financing to support farmers make the green transition a victory, in backing the EU’s sustainability objectives.
In his remarks, EU Commissioner for Agriculture and Food, Christophe Hansen, stated:
I accommodate the substantial affirmation of EIB in acceptance of the EU farming community, particularly for young farmers and women farmers. Facilitating the financing hole in the area is important, and with the EIB Group’s backing, we are offering agriculture the mechanisms to succeed and thrive. We will jointly operate with the EIB to make certain that this package opportunity is taken up on the ground and delivers results. Together, we’re guaranteeing a fair destiny for the agriculture sector.
President of the European Investment Bank (EIB) Nadia Calviño said:
“Farming is a dynamic aspect of EU life and a constructive aspect of our system. The EIB Group financing reported today will allow to back a fresh era of farmers, including more females in the sector.
Our investments are component of a holistic strategy, operating with the European Commission, to fund innovation and support build the sustainability and stability of small businesses engaged in every aspect of the wider agriculture and bioeconomy areas.
Furthermore, the latest financing seeks to stimulate investments in a spectrum of moves, including digital devices, soil health, and water management. It is also planned to support activity in endurable farming methods and the acquisition of soil by young or fresh farmers, assisting in increasing the 12% allocation of EU’s agriculturalists and the percentage involving females.
