Farmers in Northern Ireland will for the first time receive their full Direct Payments this month, the NI government has confirmed.
Payments will begin to issue on Friday 16 October with over 94% of payments totalling £265.7m going out on the first day.
They will include a 4.3% linear increase on Basic Payment Entitlements, the Department of Agriculture and Rural Affairs (DAERA) said.
Farming minister Edwin Poots said this year had been a 'very challenging and difficult' period for farmers, particularly due to the Covid-19 crisis.
"Making full payments in October has only been possible because of Brexit and I’m committed to taking advantage of the benefits of leaving the EU to deliver for our farmers," he added.
"Therefore I’m pleased to announce that for the first time in Northern Ireland farmers will receive their full Direct Payments in one lump sum this year."
The payment will be the largest pay out of Direct Payments made by DAERA on any single day, Mr Poots noted.
He added the remaining applications will continue to be verified with payments being released daily thereafter.
“My officials are continuing to verify the remaining claims. In addition they have developed a new online Claim Tracking Service so farmers can track their Single Application through to payment," he said.
Direct Payments comprise Basic Payment Scheme payments, Greening payments and Young Farmers’ payments.
The exchange rate for this year is €1 = £0.89092, which is the same as in 2019.