The Russian Government will allocate more than 42 billion rubles to support soft loans to the agro-industrial complex

The Russian government will allocate more than 42 billion rubles to provide preferential lending to the agro-industrial complex (AIC). This was announced by Russian Prime Minister Mikhail Mishustin at a meeting on January 23.

"Most of the funding will go to subsidize loans to agrarians for seasonal field work to purchase fuel, seeds, mineral fertilizers for the sowing campaign," he said.

The rest of the funds will be used for lending to entrepreneurs engaged in the production of dairy and meat products, fruit processing, as well as for projects in the field of breeding and genetics to improve domestic varieties of plants and for the development of livestock, said Mishustin.

It is noted that the measure is aimed at improving the efficiency of the domestic agrarian sector.

Thus, according to Mishustin, over the past five years, the grain harvest in Russia annually exceeds 120 million tons. The decision on the additional allocation of 42 billion was taken in order to maintain the gained growth rate.

"Such a measure will make it possible to open modern production facilities and modernize existing ones so that people have access to high-quality and healthy Russian products," the Russian Prime Minister concluded.

Earlier, on December 19, 2024, Russian President Vladimir Putin stated the importance of attracting personnel to work in agriculture. He called to talk about it constantly, to create conditions for young people who would come and work in this sector of the economy with interest.

Prior to that, on December 5, Putin said that Russia is in first place in the world in terms of wheat supplies. In addition, the country's agro-industrial complex has significantly strengthened since the late Soviet era: for example, in 1988, the Soviet Union purchased more than 35 million tons of grain for itself, and Russia exported 66 million tons of such products in 2023.