The Ministry of Agriculture has changed its mind about raising rates on preferential loans for agricultural producers so far
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On July 10, the Ministry of Agriculture published on the regulation.gov.ru portal a new version of amendments to the rules for subsidizing preferential investment and short-term loans issued by banks to agricultural producers. Compared to the previous version of June 19, the rules providing for an increase in the maximum rate on such loans from 5 to 7%, as well as reducing the amount of subsidies to banks from 100 to 70% of the key rate when issuing short-term loans, have disappeared from it.
But the new project introduces a new requirement for growers who borrow money to buy fuel, seeds, plant protection products, fertilizers, etc. Now they will be required to insure at least 50% of the area of land allotted for crops. The discussion of the project will last until July 24.
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