Re-opening of Tier 1 of FBIS Capital focus on higher input costs | News in Newry
A £10 million fund to improve farm businesses opens for applications on 27 September 2022, Agriculture Minister Edwin Poots has announced.
The fourth tranche of Tier 1 of the Farm Business Improvement Scheme – Capital (FBIS-C) will support smaller-scale investments to improve the sustainability of farm businesses.
The scheme will support the purchase of equipment and machinery, costing from £5,000 to £30,000, from a list of eligible items.
Announcing the opening for applications, Minister Poots says, “I am pleased to announce the re-opening of Tier 1 FBIS Capital.
“In what has been a very challenging year for our farmers, this fourth tranche is a timely boost for agriculture and horticulture with up to £10 million allocated for projects.
“This will build upon the success of the previous tranches of Tier 1, which to date has provided £26million grant support to over 4,000 farmers and growers.”
Minister Poots is seeking to assist farm businesses in dealing with the impacts of higher input costs.
He adds, “I want to encourage applications for equipment with the potential to help address increased costs for feed, fuel and fertiliser.
“For that reason, the item marks will be increased for a number of items in this tranche.
“This includes equipment for grassland management, silage quality, feed efficiency, precision farming and related activities, as set out in the Scheme guidance.”
Applications for FBIS Capital Tier 1 Tranche 4 must be made by the closing date, 4 pm on Friday 11 November 2022.
Further information on the FBIS-C will be available once the scheme opens on the DAERA website.
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Posted by NewryTimes News
on Sep 29 2022. Filed under Community.
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