Ministry of Agriculture of the Russian Federation will increase lending of Tatarstan crop farming to 2.1 billion rubles

The amount of subsidies, allocated from the federal budget to increase lending of Tatarstan crop growing, has been expanded to 2.192 billion rubles. Chairman of the Government of the Russian Federation Dmitry Medvedev signed the relevant decree prepared by the Ministry of Agriculture of the Russian Federation.

“It will take 5-7 years for Russia to come to a 100% level of food safety in terms of crop products. Thus we need to provide the AIC with lending in full, and we need to that as soon as possible. Our task with local authorities is to help farmers, to provide timely state financial support”’ – emphasized Alexander Tkachev, Minister of Agriculture of the Russian Federation.

Subsidies are allocated for co-financing of costs of constituent entities of the Russian Federation and concern the partial payment of the interest rate on short term loans. According to the decree the total amount of subsidies will be additionally expanded by 2.5 billion rubles in the current year for this branch, namely it will be increased to 21.3 billion rubles.