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242bn RUB will be channelled to support Russian agriculture in 2018

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“Since 2000 export of farming produce has grown 15-fold and amounted to 20bn RUB in 2017”, announced Ivan Lebedev, Deputy Minister of Agriculture. He summarized the results of 2017 farmer’s year and informed about state measures aimed at supporting agriculture. This year the agriculture industry will be bolstered with 242bn RUB.

Mr. Lebedev informed about concessional lending with the interest rate amounting to 5%. To date, banks have approved 170bn RUB loans at concessional rate.

“This year Minagri has approved 3500 loans, that is three times more than the last year. The funds for small farms in Buryatia and Bashkortostan, Stavropol territory, Omsk, Ryazan, Tambov, and Penza regions were implemented completely”, Mr Lebedev added.

According to the minister, the main backing measures are the promotion of agriculture “growth points” (dairy and beef cattle breeding, horticulture, modernisation of machinery and equipment), reimbursement of construction expenses, reduced payment for railway transportation of grain, green box subsidies, etc.

Source: National Agrarian Agency

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