Foster and Hamilton announce agri-food loan scheme

Enterprise Minister Arlene Foster and Finance Minister Simon Hamilton, MLA have announced today that a new Agri-Food Loan Scheme will be open for business in November. 

The Scheme will be delivered jointly with a number of Northern Ireland’s banks. It will help local food producers, who form part of an integrated supply chain, to access the finance they would need to invest in the farm buildings necessary to increase supply of the primary produce for processing.

Arlene Foster said: “Over recent months, several major retailers have decided to sell only UK sourced meat products. This presents major opportunities for the local Agri-Food industry and that is why we have been working with the banks to explore the potential for an Agri-Food Loan Scheme which would enable businesses to take advantage of the opportunities that exist.”

Simon Hamilton said: “The scheme we have announced today will see the Northern Ireland Executive, working proactively with a number of our banks, to provide significant finance in the form of loans to local food producers who form part of an integrated supply chain. Discussions with the banks have been very positive and highly constructive, and we are pleased to announce that we have agreed a Memorandum of Understanding, setting out our joint commitment to deliver the Scheme.”

The first phase of the Scheme will be open to broiler producers in Northern Ireland. The Department of Enterprise, Trade and Investment, the Department of Finance and Personnel and Invest Northern Ireland are also working with the banks to roll out subsequent phases of the scheme to other Agri-Food sectors over the coming months.

Commenting on the roll out Simon Hamilton continued: “The Agri-food Loan Scheme will roll out on a phased basis and the first phase of the Scheme will open for applications next month. This first phase will be open to broiler producers and we are already working to develop subsequent phases of the scheme in respect of, pig meat, egg production, red meat and dairy.”

Arlene Foster added: “Difficulty in accessing finance was one of the issues identified in ‘Going for Growth’, the Strategic Action Plan developed by the industry led Agri-Food Strategy Board.

“Our co-operation with the banks demonstrates that we are not only listening to, but acting on, the concerns of industry. It is also an example that the Executive is working together to provide support for local businesses. 

“We have worked hard to ensure that this Scheme is as straightforward as possible for producers – essentially we have created a one-stop shop. Processes within the Banks and Invest NI will be coordinated to ensure that applicants will only be required to submit one application for finance using the normal channels within the Banks.”

Simon Hamilton concluded: “Initiatives such as this are crucial as we, in partnership with our local banks, work to create a better environment for business and as we strive to ensure that local companies can make the most of opportunities for growth that arise.

“£10 million has been allocated to Invest Northern Ireland to facilitate the first phase of the Scheme this year, and the Executive has agreed to commit further funds to the Scheme should there be significant demand.”

More information...

1. Discussions have been taking place with the banks in respect of an Agri-Food Loan Scheme aimed at the Agri-Food industry. The first phase of the Scheme will be open to broiler producers and discussions are ongoing with the banks to roll the scheme out to the pig meat, egg producers, red meat and dairy sectors.

2. The Scheme will operate for a limited time only.

3. The Scheme will be delivered jointly by the banks and Invest NI. Processes within the Banks and Invest NI will be coordinated to ensure that applicants will only be required to submit one application for finance using the normal channels within the Banks. Finance will be provided by the Northern Ireland Executive by means of loans, which will be provided on commercial terms and these loans will be subordinated to bank debt. The precise application of the scheme may be adapted as it is rolled out to other sectors and this will be determined following further negotiation with the banks and those sectors.

4. Participating banks include Bank of Ireland, Barclays Bank, Danske Bank, First Trust Bank, HSBC, Santander and Ulster Bank.

5. Going for Growth can be accessed on the Agrifood Strategy Board website. 

Helping shape a strategy on money matters

Many of us find managing our personal finances increasingly more complex and challenging, especially in the current economic climate. Whether you;re saving for a special item, paying off debts or just planning a personal or family budget, keeping control of your money is central to maintaining a good quality of life.

Are you financially capable?

Financially capable consumers have the information, skills, and competence to reduce money-related stress by, for example, improving their personal finances and dealing more effectively with problem debt.

Highlighting the importance of good money management, Enterprise Minister Arlene Foster said: “Financial capability is about equipping consumers with the skills, knowledge and information they need to manage, plan, and take responsibility for their financial affairs.

“Essentially, financial capability is a key life skill that is needed by everyone in our society, irrespective of their age, gender, marital status, or their level of income.

"I would encourage everyone with an interest to attend the consultation events and contribute to the development of this important strategy. These are challenging times and we cannot afford to miss this opportunity to improve the financial capability of Northern Ireland consumers.”

Have your say

With this in mind, The Department of Enterprise, Trade and Investment (DETI) has launched a consultation on a draft Financial Capability Strategy for Northern Ireland Consumers.

As part of the consultation process, DETI is hosting a consultation event between 2pm and 5pm on Thursday 30 May at Belfast Central Mission to offer stakeholders an opportunity to help formulate the Strategy.

The Department of Enterprise, Trade and Investment consultation event will take place between 2pm and 5pm on Thursday 30 May at Belfast Central Mission, Grosvenor House, 5 Glengall Street, Belfast BT12 5AD and forms part of the 12 week consultation which runs from 1 May to 31 July 2013.

Consultation events are also being held at the following venues:

• Tuesday 21 May (2pm - 5pm) - CAFRE Loughry Campus, 76 Dungannon Road, Cookstown BT80 9AA
• Wednesday 22 May (2pm - 5pm) - The Playhouse Theatre, 5-7 Artillery St, Londonderry, BT48 6RG
• Thursday 6 June (2pm - 5pm) - Craigavon Leisure Centre, Brownlow Road, Craigavon BT65 6DL

The consultation paper and accompanying research based evidence is available to download from the DETI website at the link below:

Financial Capability Strategy Consultation - DETI website

You can request a hard copy using the contact information below:

Financial Capability Branch
DETI
Room 53, Netherleigh
Massey Avenue
Belfast BT4 2JP

Tel: (028) 90 529462 or (028) 90 529634

Ministers express sadness at farming deaths

First Minister the Rt Hon Peter D Robinson MLA and deputy First Minister Martin McGuinness MP, MLA have expressed their deep sadness at the passing of three members of the Spence family in a tragic accident at their family farm in Hillsborough yesterday.

The Ministers said: "It was with great sadness that we learned of the sudden and tragic passing of Noel Spence and his sons Nevin and Graham in an accident on their family farm yesterday.

“Our thoughts and prayers are with the Spence family at this extremely sad time and pass on our deepest condolences to them. We understand another member of the family, Emma, has been hospitalised following the accident and we wish her a full and speedy recovery.

“This tragedy has shocked the entire community and is a terrible reminder to us all of the dangers of farming life. Our thoughts are also with farmers everywhere at this time.

“Nevin was a rising star of local rugby and it is only a matter of months ago, in happier times, that we had the honour of hosting him and his colleagues at a reception in Parliament Buildings to celebrate the achievement of Ulster in reaching the Heineken Cup final. His untimely death is a blow for the game in the province and we sympathise with his teammates and everyone at Ulster Rugby who have lost a true colleague and friend."

Agriculture Minister Michelle O'Neill has expressed her condolences to the Spence family who tragically lost three family members in a farm accident yesterday evening.

Minister O'Neill said: "I am shocked and deeply saddened to learn of this terrible tragedy which has hit this hard working farming family. My thoughts and prayers are with Noel, Graham and Nevin and their family and friends at this extremely difficult time. I also hope and pray that Emma Spence who was also involved in this accident makes a full recovery."

Enterprise Minister Arlene Foster said: "I want to express my sincere sympathies to the Spence family following the deaths of Noel Spence and his two sons Graham and Nevin who was a rising Ulster Rugby star.

"This tragic accident has devastated a family and my thoughts and prayers are with them at this very difficult time.

"I understand that another family member Emma Spence, is currently in hospital following the accident and we all hope that she makes a full recovery."

Minister for Health, Social Services and Public Safety Edwin Poots has expressed his sympathy for the family of Noel, Graham and Nevin Spence following yesterday's tragic accident in Hillsborough.

He said: "I have known the Spence family for many years and it is difficult to comprehend the grief that they are suffering after such a terrible accident. My thoughts and prayers are with the family and their friends. I also want to wish Emma a full and speedy recovery. The loss of Noel, Graham and Nevin is being felt right across the community.

"I know that the firefighters, paramedics and medical staff who did everything in their power to save Noel, Graham and Nevin are devastated by what has unfolded. There is a sense of shock and disbelief across Northern Ireland today.

Sports Minister Caral Ni Chuilin has paid tribute to Ulster rugby player Nevin Spence and his father and brother who lost their lives in a farm accident in Hillsborough, and to Fermanagh County GAA player Brian ÓG Maguire, who died on Thursday following an accident.

The Minister said: "The loss of two talented sports players, and also a father and a brother, in such tragic circumstances is a tragedy for both the Spence and Maguire families. My sincere sympathy is extended to them at this extremely difficult time. My thoughts and prayers are with them all, and also with Nevin's sister Emma who is currently in hospital.

"Nevin and Brian were committed sports players and their untimely deaths are not only a loss to their immediate families, but also to the sporting organisations they represented and to their wider communities. Ulster GAA and Ulster Rugby are two of the great provincial sporting codes which unite society. Brian Og and Nevin were wonderful examples for their respective sports.

"I offer my condolences to both the Ulster and Ballynahinch rugby teams on the tragic loss of Nevin, and to the Ulster, Fermanagh and Lisnaskea GAA community on the loss of Brian, both of whom will be sadly missed."

Foster congratulates McIlroy on second major win

Tourism Minister Arlene Foster has congratulated RoryMcIlroy on winning his second major title at the US PGA Championship, KiawahIsland.

Congratulating Rory on his latest win, Arlene Foster said: "The international spotlight is once again shining on the outstanding ability of our major-winning golfing champions. To win a second major title is no mean feat, and to do so at the age of 23 is an amazing achievement.

"Rory's win, combined with the recent success of the Irish Open, which saw record-breaking crowds through the gates of Royal Portrush, highlights how golf is continuing to offer Northern Ireland global exposure.

"Through golf tourism, an estimated £14m is generated for the economy every year, but as a result of the Irish Open we anticipate that this figure will rise sharply. The tournament not only showcased our golf but also other aspects of Northern Ireland, such as our friendly people, fantastic food,music and scenery.

"Yet again our local golfers have shown that they can compete with the world's best. As they continue to raise the profile, more people from around the world will come to Northern Ireland, to play the courses that our local golfers enjoy, and they will spend their money in the local economy."

The Minister continued: "Rory's success at the US PGA Championship is a fitting end to an amazing period for sport with Team GBNI producing an outstanding performance at the Olympics. Our sporting champions are great ambassadors for Northern Ireland and it is our responsibilityto capitalise on their success.

"The Northern Ireland Tourist Board and Tourism Ireland are both working to make the most of the opportunities that our local stars are creating, to encourage the world to see for themselves why we are the home of champions."