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Ron Kostyshyn seated on the right. (file photo)
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This week's Provincial Budget highlighted some key funding announcements for Manitoba's Agriculture sector.

Agriculture Minister Ron Kostyshyn says topping the list for him was the increase in funding for the "Young Farmer Rebate".

"We're going to increase the loan amount for producers from $200,000 to $300,000. So the borrowing capacity numbers have increased as well. Agriculture, commodity prices, and input costs continue to rise, so we really felt this was an opportune time that we needed to provide some additional borrowing capacity dollars for the young producers."

The province also introduced a new lending fee credit for farmers under the age of 40.                          

The budget also included $146.9 million total in Business Risk Management Programs like Agri Insurance, Wildlife Damage Compensation, AgriStability and Agri Invest.

There's also $135,000 designated for the implementation of a veterinary strategy to help address the shortage of veterinary professionals in the province.

Kostyshyn says there's $200,000 in the budget designated for the re-opening of two Manitoba Agricultural Services Corporation service centres.

There's also increased funding for the Livestock Predation Prevention Strategy and investments at Assiniboine Community College to support sustainable horticultural practices.

And as previously announced the province's commitment to freeze Ag Crown Land lease rates.

He notes while those are some of the highlights for the Agriculture sector,  a number of other funding incentives announced in the budget will benefit rural areas and all Manitoban's.

You can review the 2024 budget "One Future. One People. One Manitoba." here

To hear Glenda-Lee's conversation with Agriculture Minister Ron Kostyshyn click on the link below.   

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