Russia views the development of agriculture and state support of farmers as one of its national priorities.
For reference: Russia ranks 4th in the world by the surface of its arable land.
State support is provided in the following aspects:
• Within the framework of the national project of agricultural development (go to site)
• Provision of subsidies for partial reimbursement of expenses to repay interest on loans obtained by agricultural enterprises, farms and individual farmers. Subsidies are provided on short-term loans (up to 2 years) and investment loans (up to 8 years). For more information please see Rosselkhozbank’s site).
For reference: According to forecasts, the amount of subsidized loans in 2008 will reach RUB 279 bln., including short-term loans of RUB 120 bln., investment loans of RUB 129 bln. and loans for small farms of RUB 30 bln.
Loans benefits are granted for:
• Purchase of technical resources for seasonal field work
• Repairs of agricultural equipment and machinery, materials for greenhouses
• Planting of long-term crops
• Construction, reconstruction and upgrade of cattle farms, vegetable stores, greenhouses, cotton-processing factories
• Construction of plants for advanced processing of protein-rich plants
• Insurance payments, etc.
Industry’s potential:
• Purchase of technical resources for seasonal field work
• Repairs of agricultural equipment and machinery, materials for greenhouses
• Planting of long-term crops
• Construction, reconstruction and upgrade of cattle farms, vegetable stores, greenhouses, cotton-processing factories
• Construction of plants for advanced processing of protein-rich plants
• Insurance payments, etc.
References: The Ministry of Agriculture of the Russian Federation
See Also:
The Ministry of Agriculture of the Russian Federation (in Russian)
National Project “Development of Agroindustrial Complex” (in Russian)