Preferential lending to Bashkiria’s farmers has almost tripled

Russian Ministry of Agriculture set a subsidy limit of 933.4 million rubles for short-term preferential lending to the agro-industrial complex of Bashkiria in 2022. This is 2.6 times more than last year, the region’s government emphasized.

“By the beginning of December this year, 730 applications for preferential short-term loans for 23.9 billion rubles were approved for farmers of the republic,” said Ilshat Fazrakhmanov, Deputy Prime Minister of the Government of Bashkiria, Minister of Agriculture. “Preferential loans helped farmers to prepare thoroughly, conduct a sowing campaign, and grow a record harvest. Today, credit funds allow agricultural producers in the region not to rush to sell the grain of the new crop, the cost of which is still low.”

Meanwhile, according to the Russian Ministry of Agriculture, farmers were issued loans worth 1.03 trillion rubles for seasonal fieldwork in the country.

Recall that the concessional lending program involves receiving loans from agro-industrial complex organizations at a reduced interest rate - from 1 to 5 percent. Subsidies for its compensation from the state directly go to banks.

Author: Galina Bakhshieva