High interest in Tier 2 FBIS Capital Scheme

Almost 900 Expressions of Interest have been received by the Department of Agriculture, Environment and Rural Affairs for the second tranche of Tier 2 of the Farm Business Improvement Scheme - Capital (FBIS-C).

By Edwin Poots MLA

Lagan Valley

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Invitations to information and training events on the second tranche of Tier 2 of the Farm Business Improvement Scheme - Capital (FBIS-C) will issue shortly, ahead of the scheme opening for applications in October.

Welcoming the high interest in the Scheme, Agriculture Minister Edwin Poots MLA said: “I am delighted by the response to the Expression of Interest stage for Tier 2 FBIS-Capital. Almost 900 farmers and growers across all sectors have outlined their plans to make a significant investment to transform their business.

In order to assist with developing those proposals, my Department will shortly issue invitations to online information and training events. I would encourage all potential applicants to participate in these events, ahead of making an application to what will be a highly competitive scheme.

This tranche of Tier 2, worth up to £12million, will support transformational investment in on-farm projects costing in excess of £30,000. Funding is provided at a grant rate of 40% of eligible costs, with £250,000 the maximum grant available under the FBIS-Capital scheme.

Only those farm businesses which submitted an Expression of Interest will be eligible to submit a full application for Tier 2 tranche 2 when it opens, and will now be invited to information and training webinars.

Successful applicants under Tier 2 tranche 2 will have a maximum of one year to complete their project. The information and training events will provide an overview of the full application stage for Tier 2 tranche 2, along with specific events on the required business plan and cashflow information.

Further information on the FBIS-C Tier 2 is available on the DAERA website at https://www.daera-ni.gov.uk/articles/farm-business-improvement-scheme

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