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Economy/Business
24 January , 13:29

Bashkiria allocated 400 million rubles to preferential loans for agro-industrial complex

The federal budget funds have already been brought to the republic. This support will allow issuing of preferential loans to agricultural producers of 6-7 billion rubles, the Ministry of Agriculture of Bashkortostan reported.

The program implies the issuance of loans for up to 1 year at 1-5% per annum, and federal budget subsidies compensate banks for the difference between the preferential rate and that set by the bank.

The region is already preparing for the new field season - it is necessary to purchase seeds, fuels, lubricants, and fertilizers and complete the repair of equipment. Preferential short-term loans are the most convenient tool for financing sowing or harvesting campaigns.

933.4 million rubles of subsidies were allocated to Bashkiria for these purposes in 2022, which is 2.6 times more than in 2021.

16.5 billion rubles were allocated to provide preferential short-term loans to the agro-industrial complex in Russia in 2023.

Translated by:Tatyana Aksyutina
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