The Cabinet has allocated another 50 billion rubles for subsidized loans to farmers

More than 48 billion rubles will be additionally allocated from the government reserve fund to support the subsidized lending program for farmers. The orders were signed by Prime Minister Mikhail Mishustin.

«We expect that the decision made will have a positive effect on the development of the industry, the preservation of jobs in the regions, and will be a good preparation for planning the upcoming sowing campaign,» Mikhail Mishustin said at today’s government meeting.

Part of the funding will make it possible to maintain the preferential interest rate on 41.5 thousand previously issued loans. The loans were used for the production and processing of agricultural products, as well as for the manufacture of veterinary medicines, feed and food additives, and enzyme preparations. The support covered both short-term loans and long-term investment projects. This measure is being implemented under the state program for the development of agriculture.

An additional order has been signed to allocate more than 1.1 billion rubles to subsidize loans under the state program «Comprehensive Development of Rural Territories.» These funds will be used to support more than 18 thousand loans issued for home improvement. The list of works includes bringing electricity, water and gas supply, sewage and heating into homes, repairing engineering systems and roofs, as well as developing rural infrastructure and building housing.