Saturday, 08 April 2017 09:39

Bank’s assistance package for flood-hit farmers

Written by 

ANZ has announced an assistance package to help the farming community affected by North Island flooding to get their farms and businesses back to full production.

ANZ managing director of commercial and agri Mark Hiddleston says a number of farmers are facing devastating damage from the aftermath of Cyclone Debbie.

“We’re offering targeted assistance to help the farming community recover from the damage caused by flooding. Our package is about helping take financial pressure off farmers and business owners then helping them get their operations back into production.”

The options available for those affected are:

- Suspending loan principal repayments;

- Waiving fees associated with restructuring business loans considered necessary due to impacts of extreme weather;

- Waiving fees for term finance and investments to help get operations back into production;

- Access to term deposits with the usual stand-down period; and

- Providing access to discounted short-term funding to help farmers get through the immediate challenges while also protecting their long-term productivity.

ANZ relationship manager Jason Parkinson who lives in Edgecumbe has seen the damage first hand.

“The first priority for our community was to make sure everyone got out safely,” Parkinson said. “Today we are out with some of our farming customers who are facing some big challenges around getting stock to dry land and milking.”

Hiddleston says farming and business customers impacted by flooding should speak to their Relationship Manager to discuss the impact on their farm or business and discuss their funding requirements.


More like this

Lamb prices hold firm

Lamb prices have held up at much stronger levels than expected, says ANZ’s agricultural economist Susan Kilsby.

Optimistic on prices, but with a caution

Dairy farmers can be “cautiously optimistic” that current forecasts will hold, but it will depend on the global economy, says ANZ agriculture economist Susan Kilsby.

Milk powder sell-off behind price hike

A big reduction in European stocks of skim milk powder (SMP) was behind its whopping 10.3% rise in price at last week’s auction, economists concur.


» The RNG Weather Report

» Latest Print Issues Online

The Hound


Fonterra has copped a fair bit of stick from the Hound over the years. However, on this occasionyour old mate…

No idea

A mate of the Hound reckons it is rather ironic – and totally appropriate – that the failing Australian-owned and controlled…


» Connect with Rural News