Farmers are being urged to apply for a share of a £2 billion fund for projects to reduce agriculture’s environmental impact and boost efficiency.
Businesses with plans to cut their carbon footprint can now apply for funds for a range of projects, such asimproving machinery and equipment, switching to renewable energy, improving water management or introducing sustainable forestry.
The Clean Growth Financing Initiative (CGFI) for Agriculture is part of Lloyds Banking Group’s£3bn total lending commitmentto encourage British businesses to grow sustainably.
Andrew Naylor, managing director of Lloyds Bank Agriculture, said: “As stewards of the countryside, agricultural businesses are already invested in the environment, which is why CGFI Agriculture will align with many business growth plans.
“A wider scheme is open to all businesses, but eligibility criteria specific to agriculture have been created, making the approval conditions more relevant for farmers and rural businesses.”
