National Bank of Canada today announced the creation of a new advisory committee dedicated to the agriculture and agri-food sectors. Comprising producers, business owners active in their sector and managers from the bank, the committee will meet every six months to more clearly identify issues facing the industry.

“The agriculture and agri-food sectors are facing new economic challenges that are being reflected in increasingly specific financial needs. The new committee represents both the agriculture and agri-food sectors in Quebec and Ontario and provides the Bank with a concrete means to develop financial solutions suited to the needs of the sectors’ SMEs. Furthermore, the Bank, with over 8,600 clients whose interests will be driving the committee’s mission, wants to consolidate its position in this industry,” explained Yvan Beaudin, senior manager – commercial banking, agriculture and agri-food at National Bank.

Over the years, National Bank has encouraged business development by these SMEs through a variety of special measures. For example, since 2003, it has employed more flexible credit standards and pricing terms for beef producers affected by the BSE crisis. In addition, in 2005, the Bank financed processing plant projects in order to help producers sell their livestock locally, which is a real advantage. The Bank is also eager to help owners who wish to pass on their businesses: it organizes conferences for them on farm transfers and succession and accompanies them through the process.