Farmers are being urged to prepare for the launch of the new Farming Investment Fund from Defra, which launches in October as part of Defra’s CAP transition plans.
The scheme includes two different funding strands: the Farming Equipment and Technology Fund and the Farming Transformation Fund. Grants from the Farming Equipment and Technology Fund can be used towards the purchase cost of a list of specified, pre-determined items, and funding is expected to be at similar levels to the Countryside Productivity Small Grant Scheme (£3,000-£12,000). Meanwhile, grants under the Farming Transformation Fund’s will be available towards the cost of more substantial investments in equipment, technology, or infrastructure, with the potential to transform business performance.
The sort of projects which might qualify for support under the Farming Transformation Fund include on-farm water storage infrastructure, including reservoirs; precision agriculture equipment; robotic or automated technology; or equipment and technology for storing, sorting, or processing products.
According to Fisher German, ‘Applications will be assessed against their ability to contribute towards the Farming Transformation Fund scheme objectives, which could include making more efficient use of water or using nutrients and pesticides more effectively.
David Kinnersley, of Fisher German, said, “While it may be all too easy to concentrate on the decreasing BPS payments, we are urging farmers to consider new grant funding opportunities.
“The new Farming Investment Fund will begin to open in October this year, so farming businesses should begin thinking, planning and discussing potential projects which could add value to their current farming operations now.”