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Letters of Offer for a £15million investment scheme have started to issue to thousands of farmers, Agriculture Minister Gordon Lyons has confirmed.

The third tranche of Tier 1 FBIS Capital attracted over 3,800 applications. This tranche of Tier 1 will support smaller scale investments to improve the sustainability of farm businesses, with a particular emphasis on businesses investing in Low Emissions Slurry Spreading Equipment (LESSE).

Minister Lyons said: “I am delighted that Letters of Offer have started to issue for the third tranche of Tier 1 FBIS Capital. I am very encouraged by the willingness of our farmers and growers to invest in the sustainability of their businesses, and particularly in Low Emissions Slurry Spreading Equipment.

“Not only does this fund immediately benefit farmers, it also has a lasting and positive impact on our environment, using up to date methods and technologies to help farmers develop their agriculture business into one that’s more sustainable and environmentally aware. It will also have a knock-on benefit for local agricultural and horticultural supply businesses and contribute to the NI economy.

“With £15million funding available for this tranche, Letters of Offer will continue to issue over the next weeks until the budget is fully allocated.”

The Letter of Offer will enable farmers to progress to the next stage of their project. It is important that farmers complete and return their Form of Acceptance as soon as possible and no later than 28 days from the date of the Letter of Offer.