Bashkir farmers were additionally allocated 152 million rubles for preferential lending

Bashkiria was additionally allocated 152 million rubles for preferential lending to the region’s agro-industrial complex. This amount will allow Bashkir enterprises to attract another 6 billion rubles in short-term loans at a rate of up to 5% per annum, the Ministry of Agriculture of the Republic of Belarus reported. As Bashinform News Agency previously reported, in September, the federal budget allocated 45 billion rubles for these purposes.

Preferential short-term loans are the main source of funds for seasonal fieldwork. According to the department, the Ministry of Agriculture of the Russian Federation has approved 333 applications from Bashkir farmers for a total loan amount of 9.5 billion rubles.

Thus, the total limit of funds allocated in 2023 for preferential short-term lending to the agricultural sector in Bashkortostan amounted to 777.2 million rubles, which is 15 billion rubles of loans at a reduced rate.

As part of preferential lending, agricultural enterprises can receive a loan for up to 1 year at a rate of 1 to 5%, and subsidies for its compensation from the state are directly sent to banks.

Author: Elina Akhmetova