Rabobank support for cyclone-affected farmers
Rabobank will offer a range of support measures to its food and agri clients across the North Island adversely impacted by Cyclone Gabrielle.
Rabobank General Manager of Country Banking Bruce Weir said teams from the specialist agricultural bank had been busy reaching out to clients wherever possible, as some areas such as the East Coast of the North Island have limited communications, so they can better understand how the cyclone has impacted farming operations and what assistance they require.
“While assessment of damage is still in a very early phase, it’s clear farmers across multiple regions and sectors have been hit hard by the cyclone,” he said.
“Dairy and dry stock farmers have had to deal with a range of obstacles including disruption to milking and milk collection, issues with meat collection and processing, power cuts, and damage to other farm infrastructure, machinery and access roads.
“Reports have also emerged in recent days of significant impacts on horticultural operations, with the cyclone damaging maize, fruit and vegetable crops across several North Island regions.”
Where clients have been adversely impacted, Mr Weir said, Rabobank will work with them on an individual basis to provide support through immediate difficulties and offer a range of assistance measures in applicable circumstances.
This assistance will include:
- deferral of scheduled loan payments
- waiver of break costs on early redemption of deposits
- waiver of fees on loan increases necessary for rebuilding operations
- waiver of fees for equipment finance contract variations and
- labour support from local Rabobank staff to help with the clean-up.
"In addition, the bank is currently considering other support measures to assist adversely impacted farmers, including support via the Rabobank Community Fund – a fund set up by the bank in late 2021 to strengthen farming communities.” Mr Weir said.
“I’d encourage any farming clients who have been adversely impacted by the cyclone and have not yet spoken to the bank to contact their local agribusiness manager or phone Rabobank on 0800 500 933.”
Rabobank New Zealand is a part of the global 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 40 countries, servicing the needs of about 10 million clients worldwide through a network of close to 1000 offices and branches. Rabobank New Zealand is one of the country's leading agricultural lenders and a significant provider of business and corporate banking and financial services to the New Zealand food and agribusiness sector. The bank has 32 offices throughout New Zealand.
Media contacts:
David Johnston
Media Relations Manager
Rabobank New Zealand
Phone: 04 819 2711 or 027 477 8153
Email: david.johnston@rabobank.com
Denise Shaw
Head of Media Relations
Rabobank Australia & New Zealand
Phone: +612 8115 2744 or +61 2 439 603 525
Email: denise.shaw@rabobank.com