Independent TD says “worst fears” have been confirmed about spread of forestry

An Independent TD says his worst fears have been confirmed about the spread of forestry in rural Ireland.

Deputy Michael Fitzmaurice says he now has confirmation that a firm from outside the country is being financially supported by a European bank in buying land for forestry, with local farmers left helpless on the sidelines.

He says the European Investment Bank is supporting Finland-based venture capital firm Dasos Capital to invest in forestry in this country.

And he adds he got written confirmation from Dasos Capital that it would not be lending to landowners here.

Deputy Fitzmaurice says it will result in even more widespread afforestation of rural regions such as the West and North West.