The amount of money available under the latest tranche of Tier 1 of the Farm Business Improvement Scheme (FBIS) – Capital has been doubled to £15m.
The news comes following a 'huge response' to DAERA's call for farming businesses to invest in Low Emissions Slurry Spreading Equipment (LESSE).
Now the third tranche of Tier 1 of the Farm Business Improvement Scheme - Capital (FBIS-C), which closed on 4 December 2020, will offer up to £15m in support for smaller scale investments to improve the sustainability of farm businesses.
NI's farming minister Edwin Poots said the demand highlighted the willingness of farmers and growers in Northern Ireland to invest in the sustainability of their businesses.
“I want to support that willingness to invest by doubling the allocation for this tranche from £7.5 million to £15 million," he said.
"This will have a positive knock-on effect for many local agricultural and horticultural supply businesses and will contribute to my aim to develop a sustainable agricultural industry in NI.”
Over 3,800 applications were received to the third tranche of the scheme, which is designed to support small scale investments on-farm to improve the sustainability of businesses through the purchase of items.
Eligible pieces of equipment and machinery cost anything between £5,000 to £30,000.
Letters of Offer will begin to issue for eligible applications from early February, DAERA confirmed.
