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Green scheme is opportunity for farmers

Farming | Published:

We at Lloyds Bank are calling on farmers and rural businesses to improve their green credentials by taking advantage of a £2 billion scheme.

Andrew Naylor, managing director Lloyds Bank Agriculture

It is open to all businesses – not just farming businesses – for projects that will reduce environmental impact and improve efficiency.

So it's an opportunity for businesses planning to lower their carbon footprint, and looking to grow in a sustainable way.

The Clean Growth Financing Initiative for Agriculture will provide rural businesses with favourable loan terms to fund projects and invest in technology that lowers their impact on the environment.

The scheme’s eligibility criteria are specific to agriculture. New conditions just announced will also mean projects that would qualify for government agri-environment schemes, such as the Countryside Stewardship Fund, Glastir and the Rural Stewardship Fund, will meet the requirements.

CGFI Agriculture is part of Lloyds Bank’s wider £3 billion "green" lending commitment to help Britain prosper, by offering the most inclusive green funding in the market.

Projects that will qualify under the scheme include adding infrastructure such as reservoirs to improve water management, investing in more efficient machinery and introducing technology to improve recycling rates. All aspects of sustainable forestry, including planting, are also now eligible.

Any application approved under CGFI Agriculture will be given a zero per cent arrangement fee on term loans, or carry a discount on the interest rate for asset finance.

As stewards of the countryside, agricultural businesses are already invested in the environment, which is why CGFI Agriculture will align with many business growth plans.

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A wider scheme is open to all businesses, but eligibility criteria specific to agriculture have been created, making the approval conditions more relevant for farmers and rural businesses.

For more information, please contact a Lloyds Banking Group Agriculture relationship manager or visit https://www.lloydsbank.com/business/industry-focus/agriculture.asp

Andrew Naylor, managing director Lloyds Bank Agriculture

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