Cyclone Gabrielle: Rabobank offers support for farmers

Cyclone Gabrielle has affected farming operations across the North Island. Photo / Paul Taylor

Rabobank says it will offer a range of support measures to its agricultural clients across the North Island who have been adversely affected by Cyclone Gabrielle.

Rabobank general manager of country banking Bruce Weir said staff had contacted clients wherever possible, to understand better what assistance they required.

This proved difficult in some areas, such as the East Coast of the North Island, which had limited communications, Weir said in a statement.

“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.”

Weir said dairy and dry stock farmers had to deal with many 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.”

Rabobank chief executive Todd Charteris said it was “a terrible situation” and the banking industry needed to step up and play its part in the recovery, as well as offering “stock standard” assistance, such as waiving fees.

“When all the water’s disappeared and somehow we’ve cleaned the mess up, it’s actually how do we get alongside all of these businesses and provide them the support to get back on their feet and get back to doing what they’re good at, and that’s an industry approach that we’ll all have to take,” Charteris told The Country’s, Jamie Mackay.

In the meantime, Weir said Rabobank would work with those affected by the cyclone on an individual basis, to provide support through immediate difficulties and offer a range of assistance measures in applicable circumstances.

This assistance will include the following:

• 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.

The bank was also considering other support measures, such as the Rabobank Community Fund, which was set up in late 2021 to strengthen farming communities, 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.”

Listen to Jamie Mackay interview Todd Charteris on The Country below:

Meanwhile, Charteris had some suggestions for farmers and growers doing it tough financially.

“I think my advice would be, don’t get self-insulated on this ... talk to people,” he told Mackay.

“There’s a lot of professional advice out there that can help [people] get through this. There are ways of restructuring businesses - there will be solutions.

“I’d say just get alongside people and people you trust, and don’t internalise it, but talk to people and look for support because there’ll be lots of support out there.”