Rural areas in Russia will receive additional 14 billion rubles

The Russian government's Telegram channel reports that rural areas will receive an additional 14 billion rubles. This funding will support preferential lending programs for rural areas.

Systemic measures have been taken to address the challenges of comprehensive development of rural areas set by the president. Among them:

• mortgage programs at 3% for housing construction,
• preferential loans for home improvement, including water and gas supply,
• loans at a reduced rate for developing engineering and transport infrastructure.

The additional funds will subsidize such loans for almost the last three months of this year and maintain rates at the same level for over 170 thousand concluded loan agreements.

The federal budget 2024 allocates over 24 billion rubles to support preferential lending mechanisms for rural residents.

“We expect that the decision taken will help to continue to create comfortable living conditions for our citizens who live in rural areas,” Mikhail Mishustin noted.

Author: Leila Aralbaeva