Financial support

The Deputy Minister of Agriculture of the Russian Federation Dmitry Yuryev held a session devoted to the financial support and competition among agricultural enterprises of AIC. Representatives of local agrarian departments took part in the session.

Opening the session Dmitry Yuryev reminded that the ministry had prepared a draft decree devoted to the implementation of the federal law adopted in July of the current year, which allowed agricultural producers to participate in the program of financial support for the second time.

“Alongside with the taken measures of financial support for agricultural producers there are some steps taken to increase financial stability of the enterprises”, added the Deputy Minister.

Within the framework of modification of the State Program on Agricultural Development 2013-2020, the Ministry of Agriculture of the Russian Federation developed a separate program “Development of AIC financial credit system”.

The participants of the session also discussed the suggestions on financial support of agriculture, when the government had to meet obligations on subsidizing investment credits, the use of project financing in agriculture and modification of the system of agricultural insurance with the help of the state support. The Deputy Minister of Agriculture of the Russian Federation noted that additional allocation of 20 billion rubles for subsidizing of investment credits allowed forwarding the money to the agricultural producers whose projects had been chosen by the Commission on AIC Crediting Coordination.

During the session, the issue of simplification of AIC crediting was discussed. The Deputy Director of the Economics and AIC State Support Department Alexander Karpushin reported on the results of work of a special working party, consisted of the largest banks providing agricultural crediting, as well as the Ministry of Economics and the Ministry of Economic Development of the Russian Federation.

The federal agricultural office offered a number of measures to simplify crediting of agricultural enterprises. The main measures are the following: the increase of availability of AIC credits and loans, the issue of specialized bank products taking into consideration all the peculiarities of AIC, the development of existing AIC crediting programs, etc.

At the end of the session, the participants exchanged their ideas whether the suggested steps would work effectively and what consequences would arise the forthcoming changes. It was decided to forward the suggestions to the Government of the Russian Federation.