Drought prompts interest-free emergency loans for Styrian farmers

ORF reports that farmers in Styria facing financial difficulties through no fault of their own will be able to access interest-free loans as persistent drought puts the region’s agriculture under severe pressure.

According to Hagelversicherung, the drought has already caused about 140 million euros in damage in Styria alone. Farms that keep livestock are under additional pressure because lower yields are forcing them to buy in more feed.

Following a feed campaign launched by the Farmers’ Association, the Chamber of Agriculture and Maschinenring, Raiffeisen will provide further emergency assistance to affected agricultural businesses through interest-free loans.

Up to 15,000 euros per farm

The loans will provide interest-free liquidity of up to 15,000 euros per farm. They are intended to help cover additional costs for feed purchases, crop failures, seeds and water supplies.

Applications can be submitted until December. The main payment date for European Union agricultural funds is at the end of the year.