The Russian government will allocate 20 billion rubles to support the preferential lending program for agricultural producers. The funds, which will come from the federal budget, will be used to subsidize preferential loans provided to agricultural enterprises for the production and processing of agricultural products. This financing will help agricultural producers attract more than 804 billion rubles in credit funds on preferential terms for seasonal field work and the implementation of investment projects. The preferential lending program for farmers was launched in 2017 and allows agricultural producers to take out a short-term (up to 2 years) or investment (up to 15 years) loan at a preferential rate.
Instrument
Allocation of Funds
Loan & Loan Guarantees
Purpose
Production incentives
Sectoral development
Agency
Russian Government; Prime Minister Mikhail Mishustin