The government will allocate 57.5 billion rubles to subsidize loans for agro-industrial complex.

The Russian government will allocate Br57.5 billion to subsidize soft loans for the agro-industrial complex. This was announced by Russian Prime Minister Mikhail Mishustin at a meeting with deputy prime ministers on December 2.

"We will allocate additionally more than 57.5 billion rubles to subsidize such loans. There are about 40 thousand of them. This is the most important decision. It is necessary for enterprises and individual entrepreneurs to continue to work successfully," said the chairman of the government.

He also said that more than Br700.5 million had been allocated for agricultural insurance to reduce the costs of farmers in emergency situations, 29 regions will receive them.

"For them a good help is a contract on insurance with state support, so that the change of rates of credit organizations does not affect the financial stability of agribusiness," - concluded Mishustin.

Earlier, on November 29, Deputy Prime Minister Dmitry Patrushev said that the Russian government is working on the issue of allocating additional funds to the Ministry of Agriculture in 2025 for investment projects, the total amount will be 40 billion rubles. According to the politician, the Russian market is currently fully supplied with products.

Before that, on November 25, Russian Agriculture Minister Oksana Lut said that the state program for the development of rural areas of the Russian Federation in 2025 may be financed by a record 115 billion rubles. According to her, since 2020, the volume amounted to almost 263 billion rubles, in 2023 funding reached 76.8 billion rubles.