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Farm package targets sustainability, growth

Farm package targets sustainability, growth


New Zealand’s largest rural lender today launched a lending package for farmers wanting to invest in improving the environmental sustainability and productivity of their farms.

ANZ Bank’s Farm Development Package includes a low-interest loan of 4% p.a. for fulfilling compliance on effluent management, water quality management and water and energy conservation.

“Fast-growing markets in Asia are producing enormous opportunities for New Zealand farmers. But increasing agriculture production is creating complex challenges on how to manage environmental stresses – in particular the impact of dairy farming on water quality,” said Graham Turley, ANZ Managing Director Commercial & Agri.

“If our farming sector is to realise the opportunities available, it must mitigate the effects of growth on the environment. An increasing number of dairy farmers are adopting new technologies to increase production and reduce their environmental footprint.

“This package makes it easier for farmers to comply with environmental regulation, and achieve sustainable production.”

The package also contains a loan for farmers considering developments that will improve their productivity such as farm conversion, feed systems, milking technology, stock housing and irrigation.

The third part of the package is a UDC Equipment Lending Facility that uses existing farm assets as security to fund farm development initiatives.

ends

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