Northern Irish farmers will soon be able to apply for grants of up to £250,000 as part of a scheme encouraging on-farm investments.
Northern Ireland's farming minister Edwin Poots announced that Tier 2 of the Farm Business Improvement Scheme - Capital (FBIS-C) will open from 10 January 2022.
Tier 2 is for projects costing over £30,000, and is primarily for construction projects and the purchase of higher value equipment linked to the needs in the farmer's business plan.
The scheme will a grant rate of 40 percent of eligible costs, with £250,000 being the maximum grant available.
Mr Poots said the focus of the pound fund was on larger-scale investment to 'encourage a step change' in the agriculture and horticulture sectors.
“We want to drive transformational investment in future proofed, fit-for-purpose, modern infrastructure and equipment, guided by a robust business planning process within assisted farms," he said.
“I will be inviting those farmers who submitted an expression of interest and who are ready to make a significant investment to transform their business to come forward with their application to the scheme when it opens on 10 January."
Only those businesses which submitted an expression of interest will be eligible to submit a full application for Tier 2 by the application closing date, on 1 April 2022.
Successful applicants will have a maximum of one year to complete their project.
