Farmers and agricultural businesses have been invited to apply for grant funding to invest in productivity-boosting equipment.
It comes after the launch of the Farming Investment Fund (FIF), which opened to applications on Tuesday 16 November.
According to the report, up to £27 million in non-repayable grant funding is available to farmers, foresters, and growers seeking to drive innovation through new technologies, plant and machinery. Here’s what you need to know:
- The FIF will be split into two funds: the Farming Equipment and Technology Fund, which focuses on smaller grants for equipment from a set list, such as electronic seeders and chemical-free disinfection systems; and the Farming Transformation Fund, which covers more substantial technology with the potential to transform business performance, such as water management.
- Grants of between £2,000 and £25,000 are available through the Farming Equipment and Technology Fund.
- Grants of between £35,000 and £500,000 are available through the Farming Transformation Fund.
- The fund comes after the UK left the European Union earlier this year, resulting in Direct Payments being phased out over the seven-year agricultural transition period.
Commenting on the launch of the fund, Farming Minister, Victoria Prentis, said: “I’m pleased to offer support to eligible farmers through the new Farming Investment Fund to invest in technology and infrastructure to boost productivity and deliver environmental benefits.
“Investing in new technology and equipment on farm has a real impact on productivity and yields, as well as a benefit for the environment as we build on the historic commitments of COP 26.”
Rural Payments Agency Chief Executive, Paul Caldwell, added: “Innovation and technology have a real-life impact across the farming sector, so I’m delighted to be able to help unlock this potential for many farmers through the Farming Investment Fund. I know how popular these schemes are so I would encourage those eligible to make an application for this valuable support.”
The deadline for the FIF is 07 January 2022.
For help and advice with related matters, please get in touch with our grant funding team today.