increase font size
Mark Hiddleston.
ANZ says it will provide an assistance package to help Mycoplasma bovis-affected cattle farmers.
The ANZ Mycoplasma bovis relief package is in response to this week’s Government announcement stating it would work with farming sector leaders to attempt to eradicate the disease, which is not harmful to humans, over the next few years.
The bank says the package will help farmers meet their short-term cash-flow requirements and ultimately re-establish their herds.
The package will be effective immediately.
ANZ also acknowledges the efforts of the Rural Support Trust and will make a $20,000 donation to support their important work with local farmers on the ground.
“We know this is a distressing time for those affected by Mycoplasma bovis and it is important we play a role in supporting customers through this,” said Mark Hiddleston, ANZ Bank’s managing director commercial & agri.
“As New Zealand’s largest rural lender we are offering a range of options to help farmers on restricted and affected properties meet their short-term cash requirements and re-establish their farms to full performance.
“Affected customers should contact their relationship manager to discuss the various support packages available.
“At the farm gate, the national priority is to ensure that individual farms and the entire rural community work through the impacts of the outbreak, and collectively we restore New Zealand farms,” Hiddleston says.
ANZ’s Mycoplasma bovis assistance package includes:
- Suspending loan principal repayments;
- Waiving fees associated with restructuring business loans considered necessary due to impacts of Mycoplasma bovis;
- Waiving fees for term finance and investments which improve performance and the ability to respond to Mycoplasma Bovis in future years;
- Waiving the interest rate reductions associated with accessing funds on term deposits ahead of maturity date due to financial hardship; and
- Providing access to short-term funding to help farmers get through the immediate challenges while also protecting their long-term productivity.
Dairy and beef farmers could be eligible for lower interest lending options for financing Halter on their farms, with ANZ, ASB and BNZ now offering a pathway to sustainability loans for New Zealand’s largest virtual fencing provider.
OPINION: Groundswell has given ANZ a shout-out for, so far, being the only one of the big four Aussie-owned banks not to set emissions reduction targets for its dairy sector loan book.
Major rural lenders are welcoming a call by farmers for the Commerce Commission to investigate their net-zero emissions target.
ANZ agricultural economist Susan Kilsby is describing the 2024-25 dairy season as ‘a cracker’.
ANZ says the latest cut to its floating rates will be welcome news to many of its business and agri customers still feeling the effects of high inflation and interest rates.
Fonterra says the US continues to be an important market for New Zealand dairy and the co-op.
Trade and Agriculture Minister Todd McClay says New Zealand's trade interests are best served in a world where trade flows freely.
New Zealand's red meat sector says it is disappointed by the United States' decision to impose tariffs on New Zealand exports.
OPINION: Farmers nationwide will be rubbing their hands with glee at the latest news from the Government about the RMA reforms.
Holstein Friesian NZ and Link Livestock have agreed on a strategic partnership to provide HFNZ members with comprehensive services from one of New Zealand's most respected dairy men.
Rural retailer Farmlands has launched a new casual clothing range available across 42 stores nationwide and through its online store.
OPINION: Is it the beginning of the end for Greenpeace?
OPINION: The good times felt across the dairy sector weren't lost at last week's Beef + Lamb NZ annual meeting.
