The multi-million pound fund will be available for farmers looking to modernise their infrastructure, helping to streamline their farming processes and increase efficiency.
It will also assist farmers looking to reduce their farm’s exposure to market volatility by providing funds to invest in viable diversification projects either within agriculture or from non-agriculture sources.
Mark Suthern, head of agriculture at Barclays, said: “We are committed to supporting British farming and we are dedicating £100m in lending solely for use within the farming industry to help boost the industry’s profitability and efficiency.
“This fund will provide essential investment; the fund will also make it easier for farmers to find alternate sources of income, decreasing the impact of price volatility on farm incomes.”
The fund comes at a time when the UK agriculture sector faces a number of challenges that have placed increasing pressure on farmers.
From concerns about commodity prices, which have remained steadfastly low, to poor weather impacting output, adding further pressures to the industry.
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