The list of areas for using soft loans has been expanded for manufacturers of export-oriented agricultural products
The Ministry of Agriculture and Food of the Republic of Tatarstan informs that the Chairman of the Government of the Russian Federation Mikhail Mishustin signed Decree No. 748 of May 26, 2020, in accordance with which the list of areas for the targeted use of soft loans for farmers who have concluded agreements on improving competitiveness has been expanded.
The Decree of the Government of the Russian Federation provides that companies representing the fishing and fish farming sectors, processing of forest resources, and those engaged in the conservation of fish, crustaceans and mollusks will be able to take advantage of investment and short-term loans (up to 15 years and 1 year, respectively). These measures will increase the production of export-oriented agricultural products and support domestic producers.
The document also provides the inclusion of a new category of organizations engaged in the sale of agricultural products and providing services the transshipment and (or) storage of such products (ORCs, infrastructure projects and elevators).
Earlier, the Government of the Russian Federation decided to abolish the requirements for increasing exports for 2020, which made agreements on improving competitiveness. This will allow agricultural producers to take advantage of soft loans during the economic constraints caused by COVID-19.