Frontpage News 2015 Banks contribute t...

Banks contribute to the development of agriculture

4 May 2015

The banks support a number of new initiatives aimed at bringing the agriculture back on track.
Today, the government, the agriculture, the banks and the mortgage credit institutions joined forces on a number of initiatives to improve the agriculture’s situation.
Among other things, the banks will continue and intensify the individual reconstruction process among bankruptcy threatened holdings which have already started. This will be supported by more flexibility in the Danish financial supervisory authority’s approach to agriculture, through better options for injecting more equity into agriculture and by focusing more on the agriculture’s international competitiveness.
"It is great initiatives that we have agreed on today. We all have a common interest in helping to solve the agriculture’s challenges. The banks take co-responsibility, since agriculture is an important industry for the Danish economy and it is therefore important that we all – the financial sector, the authorities and of course the agriculture itself – contribute to this task,” says the Danish Bankers Association’s Chairman Tonny Thierry Andersen.
For the banks, it is important that it is always an individual decision whether a holding should be reconstructed depending on the individual holding’s situation.
“It is crucial both out of respect for the farmer and for the bank, which has granted loans to him”, says Tonny Thierry Andersen, who points out that the initiatives together provide the banks with greater opportunities for contributing to the improvement of the agriculture’s situation.
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