North West MEP Mairead McGuinness says other processors should copy the lead of Glanbia’s new loan scheme.
Earlier this month the Co-op launched a €55m scheme that will provide interest-free cash to its suppliers when milk and grain prices are weak.
Speaking in Brussels this week, Mairead McGuinness said it’s a model that should be copied and she urged banks to show more sensitivity to farmers when it comes to repaying their loans.
The Fine Gael MEP says new methods are needed to provide funding for farmers.
