CEJA welcomed today the joint initiative of the European Investment Bank (EIB) and the European Commission’s DG AGRI for improving access to funding for young farmers.

The initiative includes the availability of a loan package specifically targeting young farmers and was officially launched during a fi-compass conference on price volatility and the financial needs of young farmers.

“Commissioner Hogan and his team have proved their dedication to the future of the agricultural sector in answering one of the three biggest challenges for young farmers across Europe: access to credit. CEJA has been advocating for better tools to deal with this challenge. The initiative is promising and will provide vital support to young people wanting to enter or remain in the sector,” said CEJA President Jannes Maes who also delivered a speech at the conference.

The initiative makes available a €1 billion loan package composed of €700 million for small and medium enterprises in the agricultural and bio-economy value chains, of which a minimum of 10% will be allocated to young farmers; and two pilot loans worth €275 million targeted at young farmers and climate change mitigation.

EAFRD financial instruments for young farmers will also be optimised under the initiative and there will be reinforced advisory support provided by the EIB to managing authorities.

CEJA urges the EU’s Member States to include the initiative’s instruments in the formulation their Strategic Plans for the future CAP.

ENDS

CEJA represents the political interests of around two million young farmers from across Europe. Its main objectives are to facilitate the installation of young farmers, to inform and to train them as well as act as a forum for communication and dialogue between them.

For further information:

Fiona Lally, Communications Officer, Tel: +32 (0)2 230 4210 / E-mail: pressofficer@ceja.eu / Website: www.ceja.eu