Russian Ministry of Agriculture will freeze subsidized agricultural loans approval for a year
Russian Ministry of Agriculture is searching for ways of debt loan of agrarian enterprises reduction. Firstly the ministry plans to stop subsidizing of new investment loans before it clears former debt – 18.3 bln rubles. Ministry’s participation in new projects will be postponed by a year as minimum. The ministry has got 2.3 thousand of investment projects with loan periods from 2007 to 2012, 1.6 thousand from them (at a cost of 4.5 bln rubles) correspond to the requirements of the regulatory basis. Previously approved loans’ debt totals 18.3 bln rubles. The ministry plans to clear it during 2014.
During the period from 2008 to 2012 2.11 trn rubles – loanable funds - were invited to the agricultural sector. Share of investment loans prevails but is decreasing from year to year.
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