Staggering €62 Billion Financial Shortfall Besets EU Farmers, Amplifying Calls for Equitable Financing

EU farmers are grappling with a dramatic surge in unmet financial demands, skyrocketing from €33 billion in 2017 to €62 billion in 2022, as divulged by Commissioner Janusz Wojciechowski during the 9th EAFRD-funded financial instruments conference. Small and young farming enterprises bear the brunt, hampered by stringent banking prerequisites and amplified loan rejections — a stark contrast to the agri-food SME sector, which saw its financing gap shrink to €5.5 billion. Over a five-year span (2023-2027), €8.5 billion of CAP funding is earmarked for young EU farmers, with additional studies and efforts underway to buttress financial stability and green investments across the agri-food sector amidst escalating fiscal challenges.