Preferential lending to milk formulas producers has been expanded in Russia

To further develop the food and processing industry, the Government of the Russian Federation decided to expand the possibilities of the preferential lending program to manufacturers of milk formulas and clinical nutrition for people with serious illnesses. The press service of the Russian government reported this.

The term of preferential investment loans previously issued for the construction of enterprises for producing dry ingredients and milk mixtures from them for baby food is extended from 8 to 12 years. For new borrowers, the amount of subsidized loans that can be obtained for the construction, reconstruction, modernization, and re-equipment of enterprises to produce specialized medical nutrition products is increasing (from 70 to 100% of the critical rate of the Central Bank). It is assumed that these measures will allow the completion of projects that have already begun, faced with a disruption in equipment supply due to sanctions.

Earlier, Bashinform News Agency reported that to develop a dairy kitchen project in Bashkiria, they plan to primarily launch a workshop to process raw materials. This will reduce the cost of production.