The European Investment Bank (EIB) has signed a €40 million financing agreement with agri-technology company Devenish Nutrition which is guaranteed under the Juncker Plan's European Fund for Strategic Investments (EFSI).
The EIB loan will enable Devenish to develop a purpose-built Global Innovation Centre in Dowth, County Meath, from where it will develop and showcase its ‘One Health – from Soil to Society’ research, development and innovation programme. It will also fund innovation related capital projects and research into optimised animal nutrition, food innovation, health and sustainability.
The European Commission is standing by Europe's farmers this summer, as they grapple with the difficulties of extreme droughts.
Farmers will be able to receive their direct and rural development payments in advance and will be granted more flexibility to use land that would normally not be used for production, in order to feed their animals.