Mikhail Mishustin announced additional measures to support agro-industrial complex

At a meeting of the Russian government on March 17, Prime Minister Mikhail Mishustin announced measures for additional support for the agro-industrial complex:

“The successful development of agriculture is actually the foundation of the country's food security, especially in the context of sanctions. Our farmers know how to work. This has been proven many times in recent years. And to help them maintain their momentum, despite external restrictions, we are introducing a new support measure for backbone companies.”

Access to loans at a reduced rate will be simplified for such agricultural enterprises (whose work is important for the livelihood of the municipality, the region). The Government will allocate more than 26 billion rubles for such purposes. The funds will be received by credit organizations that cooperate with backbone agribusiness. Loans will be issued for up to one year. Their maximum amount should not exceed 5 billion rubles.

It will be possible to take such preferential working loans subject to several conditions, among which is the preservation of at least 90% of jobs.

“We hope that this will help the backbone agricultural companies to attract preferential working loans for a total amount of about 225 billion rubles. In general, this measure will ensure the stability of the industry,” the Prime Minister said.