Farmers in Waikato say an offer of assistance from banks is great news as they struggle to survive the worst drought in the region in 65 years.

Waikato Federated Farmers president Stewart Wadey says the drought is hurting more than 4,000 farmers with the worst affected farms in north and east Waikato and the Hauraki district.

Mr. Wadey says even though rain has fallen recently, farms are suffering because there's been no pasture growth to feed stock.

He says banks in Waikato have offered to help farmers manage their expenditure and provide financial advice to identify future problems.