LIVESTOCK I

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The project would be the Bank's first assistance to Ireland for agriculture and is intended to help Ireland exploit more fully its comparative advantage in the production of beef and pig meat to meet the rapidly expanding export market. The project would also promote improvements in the structure of farming and raise the incomes of small farmers. The project would finance the development of about: (a) 315 beef breeding farms; (b) 1,085 beef rearing/fattening farms; (c) 1,855 dairy/beef farms; (d) 210 pig breeding units; and (e) 55 pig fattening units. The project would increase annual output by an estimated 14,000 tons of beef and 7,500 tons of pig meat. A Project Unit to be headed by a Project Director would be established and would be responsible for project execution. The loan proceeds would be disbursed against 66 percent of the Farm Development loans, against evidence of disbursement by the participating banks to the Project Farmers. Technical assistance to farmers in preparing farm plans on which to base their loan applications would be provided by the Farm Advisory Service, and officers employed by the Banks and ACC would appraise the loan applications (including farm plans) and submit them to the Project Director for approval.