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Funding for hog and ruminant farmers approved

by 5m Editor
3 May 2007, at 11:20am

CANADA - The provincial government of Nova Scotia announced that funding to provide greater financial stability is now available for farmers who have loans through the Ruminant Support Program and Pork Nova Scotia. "We are following up on our promise to help farmers, particularly those in the hog and ruminant industry, with the many financial challenges they face," said Brooke Taylor, minister of agriculture.

This transition funding will provide debt relief and help farmers to make important business decisions. As part of the $6.2 million Transitional Assistance Program, clients of the Ruminant Loan Support Program and Pork Nova Scotia's Hog Loan Support Program can receive debt relief.

"For funding, farmers must provide a business assessment that shows long-term viability for their farm. Transition may mean a new product, agreeing to farm debt mediation, or perhaps planning for an industry exit strategy," said Mr. Taylor.

The program, announced as part of a three component Industry Assistance Program, required budget approval. This was accomplished when the government's 2007-08 budget was passed in April.

Mail outs to farmers include application forms and information outlining the program. A Transitional Assistance Program Committee, made up of department and industry representatives will review applications and make recommendations on a grant to reduce their debt.

Source: Nova Scotia Business Journal

5m Editor