The government will allocate an additional 5 billion rubles to help farmers
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Russian Government provided for an additional 5 billion rubles. for concessional lending for Russian farmers to carry out sowing work and support the current development of the sector in 2022. The funds allocated to the Ministry of Agriculture will go to the authorized capital of the Russian Agricultural Bank, which is one of the creditors of the agricultural industry in the country.
By allocating additional budget investments, Rosselkhozbank will be able to increase the volume of loans, including within the framework of a preferential program that provides for subsidizing the interest rate.
In May this year, the government approved allocation of 153 billion rubles. to subsidize loans for farmers, in July another 200 billion rubles. We are talking about loans under the program launched in 2017.
Loans are provided for the development of crop and livestock production, as well as for the construction, reconstruction or modernization of enterprises for the processing of agricultural raw materials. The rate is up to 5% per annum. A short-term loan is issued for up to a year, an investment loan for a period of 2 to 15 years.
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