Rabobank support measures for farmers affected by
WA wheatbelt fires
Agribusiness banking specialist Rabobank has announced support measures that will be offered to its farming clients adversely impacted by devastating bushfires in Western Australia’s wheatbelt.
Rabobank regional manager for Western Australia Steve Kelly said while the full impacts of the fires were still being assessed, it appeared “some 60,000 hectares of land in total had been burned with a lot of damage to pasture, livestock and infrastructure, including sheds and fencing”.
“Very fortunately, despite this damage, there are no reports of loss of life and all our staff and clients are safe. There is, however, understandably significant distress for all those impacted, in particular with regard to livestock loss and injury,” he said.
Mr Kelly said there would also be considerable concern among farmers regarding the loss of pasture, stored grain and crop inputs, as well as the uncertainty about replacement of damaged machinery, with the existing supply chain delays.
He said loss of livestock genetics would also be an issue, as would concern about access to labour to re-build damaged infrastructure.
Mr Kelly 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 included:
· 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.
Mr Kelly said while the existing fires were now under control, the wheatbelt remained on high alert with further hot weather forecast for coming days.
Rabobank Australia & 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 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 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 93 branches throughout Australia and New Zealand.
