Preferential investment loans worth 1.7 billion rubles were approved for Bashkir farmers

The Ministry of Agriculture of the Republic reported that since the beginning of 2024, agricultural producers in Bashkortostan have approved 37 applications for preferential investment loans totaling 1.65 billion rubles.

“For many years now, the federal preferential lending program has remained the main incentive mechanism for implementing large investment projects and renewing material and technical parks in the agricultural sector,” said Deputy Prime Minister and Minister of Agriculture of the Republic Ilshat Fazrakhmanov.

The bulk of loans are for purchasing agricultural equipment. For these purposes, the Federal Ministry of Agriculture approved 33 applications from Bashkortostan farmers for 1.4 billion rubles.

“Over the past five years, from 2019 to 2023, republican farmers have purchased more than 16 thousand units of agricultural equipment worth almost 56 billion rubles. In Bashkortostan, there is a regional program for updating the agro-industrial complex's technical fleet, within which farmers are reimbursed up to 50% of the costs of purchasing agricultural equipment. Thus, over the same five years, from 2019 to 2023, agricultural producers in Bashkortostan were paid 7.2 billion rubles in subsidies under the program,” the Republican Ministry of Agriculture recalled.

The preferential lending program for farmers has been operating in Russia since 2017. This year, the preferential rate on investment loans ranges from 6.8 to 10%.

Author: Elina Akhmetova