The Russian government has softened the terms of repayment of preferential investment loans for farmers
The Ministry of Agriculture and Food of the Republic of Tatarstan informs that farmers who suffered losses in 2020 due to African swine fever or highly pathogenic birds flu will be given an opportunity to extend the repayment period of preferential loans. The resolution was approved by the Chairman of the Government of the Russian Federation Mikhail Mishustin.
We are talking about investment loans at a rate of up to 5%, which are issued for the development of animal husbandry. In addition, those who took them for the construction, reconstruction or modernization of enterprises for deep processing of agricultural raw materials will also be able to extend previously taken loans.
For this, entrepreneurs need to conclude an additional agreement with the bank. At the same time, the loan term, taking into account the prolongation, should not exceed 12 years.
This decision will support agricultural companies affected by African swine fever and bird flu and help them complete investment projects, as well as ensure uninterrupted food supplies to the market.