NatWest Group has announced an additional £1.25bn lending package to the UK farming community to help it deal with cost pressures and to aid the transition to more sustainable practices.
Agricultural businesses - of which the banking group has around 40,000 as customers - are facing inflation of over 25% and price hikes in the region of 200% for fertiliser and fuel, alongside the affects of Brexit and the war in Ukraine on supply costs.
NatWest will deploy money through a variety of routes, including 'green loans', conventional loans, asset finance and increased overdrafts, to add to capital repayment holidays and reductions on small business loans that announced last month.
