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STATES OF JERSEY
AGRICULTURAL LOANS AND GUARANTEES ADVISORY BOARD APPOINTMENTS
Presented to the States on 27th August 2024
by the Minister for Sustainable Economic Development
STATES GREFFE
2024 R.137
2
REPORT Agricultural Loans and Guarantees Advisory Board
In accordance with Article 3(2)A of the Agriculture (Loans) (Jersey) Regulations 1974 (the Regulations') the Minister for Sustainable Economic Development makes the following appointments to the Agricultural Loans and Guarantees Advisory Board:
Chair: Vice-Chair: Board Members:
Chief Executive; Jersey Business
Head of Industry Development; Jersey Business
Chief Economic Advisor; Government of Jersey
Head of Local Economy; Government of Jersey
Sector Lead Rural and Marine Economy; Government of Jersey
The Regulations enable the Minister for Sustainable Economic Development to appoint members of the Agricultural Loans and Guarantees Advisory Board, whose purpose is to advise the Minster on agricultural loan applications.
In November 2023 the States Assembly recognised the requirement for interventions to allow meaningful investment for the agricultural sector over the long-term through their approval of P.74/2023 as amended. This proposition included the recapitalisation of the Agricultural Loans Fund, which will take place in 2024.
The Agricultural Loans and Advisory Board has not been in existence since 2002. These appointments are therefore an interim measure which will facilitate the reintroduction of the Agricultural Loans Scheme in 2024 by constituting a new Board, to agree and approve the process to be followed for new loan applications under the recapitalised scheme and review loans under the current fund.
The re-establishment of the Board and agreement of process will be undertaken alongside the debate on proposed changes to the Regulations (P.41/2024) on 10th September. Following this, the Government of Jersey Officers nominated to the Board will stand down and will be replaced by suitably qualified independent members, who, alongside the Chair and Vice-Chair will advise the Minister on future loan applications.
The Chair and Vice-Chair nominated to the Board are the Chief Executive and Head of Industry of Jersey Business – this organisation has been selected to assist with the delivery of the revised loans scheme and both have the required experience to provide well informed opinion to the Minster on the suitability of applications to the scheme.
The Minister is therefore notifying the States of his intention to make these appointments in accordance with the Regulations.
Financial and manpower implications:
There are no additional finance, manpower or other implications
R.137/2024