Igor Kuzin: this year the new system of lending in agricultural sector helped to involve more than 700 billion rubles of credits

"The government has created the conditions to involve about 700 billion rubles into the sector, that is the volume of investments involved through investment loans - more than 500 billion rubles and 200 billion rubles in short-term loans for seasonal work," he said.

The Department agreed upon about 3.2 thousand applications for preferential investment loans. The amount of subsidies this year is 6.7 billion rubles, in 2018 - 33.3 billion rubles. "The drawdown on the investment loans has been going on for more than one year", - said Igor Kuzin.

In previous years lending was in the range of 150-170 billion rubles.

Igor Kuzin has specified that we are talking about the amount of lending approved by the Ministry of agriculture.

According to him, very often it happens that banks "tighten" these limits and do not sign contracts for different reasons. "Sometimes the borrower does not meet the conditions, sometimes the Bank itself, reassessing credit agreement, disclaims the providing of credit," he added.

Currently, out of 500 billion rubles of investment loans, approved by the Ministry of agriculture, banks signed contracts for 350 billion rubles. 

Earlier it was reported that Deputy Minister of agriculture of the Russian Federation Igor Kuzin during the forum "Agroinvest-2017" said that profitability is the primary reason why the agricultural sector can be attractive to investors, reports The DairyNews.

According to the Deputy Minister Kuzin, "stability and predictability coupled with flexibility of state policy is the second key to the attractiveness of the sector."

"We combined 94 forms of support for agricultural sector in one for the convenience of market participants", - said the Deputy Minister, reminding of the introduction of so-called "single grants" by the government.

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