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Rabobank support measures for farmers affected by Queensland and NSW fires

Agribusiness banking specialist Rabobank has announced support measures that will be offered to its farming clients adversely impacted by devastating bushfires in Queensland and northern New South Wales.

Rabobank group executive for Country Banking Australia, Marcel van Doremaele said the full impacts of the fires were still being assessed, “with multiple bushfire zones still active throughout the western and eastern Downs and the northern Burnett regions in Queensland, along the NSW-Queensland border and also across the northern tablelands in NSW – there are reports of damage to pasture, livestock and infrastructure, including sheds and fencing”.

“Understandably these fires are causing significant distress for all those impacted, in particular with regard to livestock loss and injury,” he said. “And producers will also face the challenge of sourcing fodder for their livestock, if their pastures have been burned out.”

Mr van Doremaele said there would also be considerable concern among impacted primary producers regarding the loss of stored grain, fodder and crop inputs, as well as damaged machinery.

Producers will also be concerned about access to labour when they begin to re-build damaged infrastructure, he said.

Mr van Doremaele said the bank’s staff were contacting farming clients in impacted areas to offer support and assess the extent of any damage they have sustained.

He said the bank would work directly with individual clients whose farms or agribusinesses had been affected to provide support and offer a range of assistance measures in applicable circumstances.

These include:

  • deferral of scheduled loan payments,
  • waiver of break costs on early redemption of farm management deposits,
  • waiver of fees on loan increases necessary for rebuilding operations and
  • waiver of fees for equipment finance contract variations.

Any farming clients who had been adversely impacted by the fires and had not yet spoken to the bank should contact their local branch or phone Rabobank on 1800 025 484.

 

Rabobank Australia & New Zealand Group is a part of the international Rabobank Group, the world’s leading specialist in food and agribusiness banking. Rabobank has more than 120 years’ experience providing customised banking and finance solutions to businesses involved in all aspects of food and agribusiness. Rabobank is structured as a cooperative and operates in 38 countries, servicing the needs of approximately 8.4 million clients worldwide through a network of more than 1000 offices and branches. Rabobank Australia & New Zealand Group is one of Australasia’s leading agricultural lenders and a significant provider of business and corporate banking and financial services to the region’s food and agribusiness sector. The bank has 90 branches throughout Australia and New Zealand.

Media contacts:

Denise Shaw
Head of Media Relations
Rabobank Australia & New Zealand
Phone: 02 8115 2744 or 0439 603 525
Email: denise.shaw@rabobank.com

Will Banks
Media Relations Manager
Rabobank Australia
Phone: 0418 216 103
Email: will.banks@rabobank.com