POLITICS

Nova Scotia government expands interest relief program for farmers

07/14/2015 02:18 EDT | Updated 07/14/2016 05:59 EDT
HALIFAX - The Nova Scotia government says more farmers have access to interest relief under changes to its FarmNEXT program.

Agriculture Minister Keith Colwell says the changes expand the eligibility criteria for the program.

The province says more than one child in a family can now apply for the program provided each child operates their own farm entity as a separate and unique business.

It says new farmers may also be eligible when they purchase farmland.

The program reduces borrowing costs for farmers, with up to $30,000 in benefits assigned to interest on a farmer's loan from the Nova Scotia Farm Loan Board.

The program will make available $574,000 to applicants in 2015-16.