young farmer

The European Commission and the European Investment Bank (EIB) launched today a €1 billion loans package targeting specifically young farmers. In 2017, 27% of the loan applications submitted to banks by EU young farmers were rejected, compared to only 9% for other farms.

The €1 billion package announced today by Commissioner for agriculture Phil Hogan and EIB Vice-President Andrew McDowell, aims at increasing access to funding for EU farmers, especially young farmers.

EU member states will have to deal with the generational renewal of the EU farming sector “whether they like it or not,” young farmers say. And to do so, they first need to support a strong budget for the post-2020 Common Agricultural Policy (CAP), they argue.

“As generational renewal is one of the CAP’s nine objectives, member states will be obliged to tackle this issue whether they like it or not,” Jannes Maes, president of the EU young farmers’ association (CEJA), told EURACTIV.com.