Brussels – The European Investment Bank has announced a loans package totalling €2 billion, to help trigger long term investment in agriculture and bioeconomy, especially among young farmers.
The action is a direct response to a recent study which found that agricultural enterprises are less successful in their finance applications compared with other sectors.
The problem was found to be even more acute among young farmers and for this reason 10% of the loans are reserved for farmers under 40.
€200 million of the package is ringfenced for agriculture and climate action.
You can read more about the scheme here.