1 billion euros to support young farmers

The EU wants to reduce aging in agriculture. Currently, only 5% of European farmers are under 35 years old. That is why there is a new investment fund from the European Investment Bank.

Brussels is making 1 billion euros available to support young farmers. On favourable terms, they can borrow money, including for starting a farming business.

Research by the European Commission shows that it is often difficult for young farmers to borrow money for their business. In 2017, a quarter of loan applications were rejected. That's three times more than for other farmers. The ability to borrow money for a farm business is crucial to being able to practice the profession of farming. The interest rate on loans becomes relatively late and the repayment period long.

Source: NRC