Additional £400,000 available for the second tranche of Tier 1 of the Farm Business Improvement Scheme - Capital (FBIS)
The Department of Agriculture, Environment and Rural Affairs (DAERA) has announced that an additional £400,000 is available for the second tranche of Tier 1 of the Farm Business Improvement Scheme - Capital (FBIS - C)
Almost 3,000 applications were received under the second tranche of the Scheme, which is designed to support small scale investments that will improve the sustainability of farm businesses through the purchase of equipment and machinery, costing from £5,000 to £30,000, from a list of eligible items.
The second Tranche of Tier 1 of FBIS-Capital had an initial budget allocation of £7.5million. This has now been increased to £7.9million.
A DAERA spokesperson commented: "The total budget for Tier 1 of the FBIS-C is £15million, and with £7.1million spent on tranche 1, the Department has confirmed that £7.9million will be available for this tranche. This increased budget for tranche 2 will help to ensure that the future sustainability of even more farms in Northern Ireland is achieved through capital investment in equipment that will also bring about improvements to the environment, animal and plant health, occupational health and safety and production efficiency."
Farmers who receive a Letter of Offer should read it carefully and, if prepared to accept the terms and conditions of the scheme, must complete and return their Form of Acceptance to the FBIS-C, Tier 1 Delivery Agent, Countryside Services Ltd, within 28 days of the date of the Letter of Offer. Successful farmers have 4 months from the date of the Letter of Offer to complete their purchases and submit their claim.
Interested in finding out more? Contact:
Whilst every effort has been made by CavanaghKelly to ensure the accuracy of the information here, it cannot be guaranteed and neither CavanaghKelly nor any related entity shall have liability to any person who relies on the information herein. Information given here is for guidance only. Detailed professional advice should be taken before acting on any information contained herein. If having read the guidance here, you would like to discuss further; a member of our team would be pleased to help you.