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22 February, Saturday

Ufa   °

Farmers plan to attract loans worth 5.5 billion rubles in Bashkortostan for sowing season 2020

Economy/Business

UFA, 23 January 2020. /Bashinform News Agency/ translated by Tatiana Aksyutina/.

Agricultural producers of Bashkiria plan to attract 5.5 billion rubles of preferential short-term loans for the sowing campaign of 2020, the press service of the regional Ministry of Agriculture reports.

In addition, dairy enterprises will take 1.7 billion rubles of soft loans. These funds will also be used to advance agricultural producers for spring fieldwork.

In 2019, 285 concessional short-term loans totaling 7.3 billion rubles were issued to agrarians of the republic. The mechanism of concessional lending to farmers has been operating in the country since 2016, and the funds received with its help are one of the main sources of financing seasonal fieldwork.

The Ministry of Agriculture of Russia has already approved 103 applications of republican agrarians for obtaining preferential loans totaling 2.062 billion rubles. These funds will be used to finance the sowing campaign of 2020.

Another 13 applications for soft loans from Bashkir farmers (1.354 billion rubles) were submitted for approval to the Ministry of Agriculture of Russia this year. Ten of them, in the amount of 1.044 billion rubles, were announced for the replenishment of the working capital necessary for conducting spring fieldwork.

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