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Rabobank announces support measures for farming clients impacted by devastating Victorian bushfires

Rabobank

Rabobank will make a range of support measures available to farming clients affected by devastating bushfires in Victoria.

 

Rabobank state manager Victoria and Tasmania Sally Bull said large areas of farming land had been among the estimated nearly 400,000 hectares burned by more than 10 major bushfires in the state in recent days, a number of which are still burning.

 

Ms Bull said the bank had been contacting clients in fire-impacted regions over the weekend and today to check on their safety and wellbeing and gauge the extent of support required, with the scale of damage still being determined.

 

“At the current time, fires in the Walwa, Otway Ranges, Dargo and Longwood areas are still burning out of control, so there may be further impact on agricultural land in these regions if these fires spread further,” she said.

 

“Overall, the damage to agricultural operations that is being seen generally across Victoria is ranging from relatively minor fencing losses to devastatingly complete loss of pastures, crop, livestock and farm structures.”

 

Ms Bull said the bank would work directly with affected clients on an individual basis to provide support to help them through difficulties resulting from the fires.

 

“We are continuing to make contact with clients in fire-impacted regions and would ask any clients who have not already spoken to us, and who require assistance, to contact the bank,” she said.

 

Ms Bull said a range of assistance measures were being offered in applicable circumstances.

 

These included:

• ‘carry on’ finance to keep viable operations running,
• waiver of break costs on early redemption of Farm Management Deposits to allow access to needed funds,
• deferral of scheduled loan payments and
• waiver of fees on loan increases necessary for rebuilding operations.

 

Clients should contact their local branch or phone Rabobank on 1800 025 484.

 

Media contacts:

Denise Shaw                                                      Will Banks      

Media Relations                                                  Media Relations

Rabobank Australia & New Zealand                   Rabobank Australia     

Phone:  02 8115 2744 or 0439 603 525             Phone: 0418 216 103  

Email: [email protected]                  Email: [email protected]

 

About us:

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 125 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 more than nine 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 87 branches throughout Australia and New Zealand.