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6 May, Thursday

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Bashkiria plans to extend period for providing state support for agricultural investment loans

Economy/Business

At a meeting on April 12, the Bashkiria Government considered a draft amendment to the procedure for providing state support for investment loans, the press service of the regional cabinet reports. Large investors are entitled to reimbursement of part of the interest rate on loan (from the federal and regional budgets). Now, this support is being provided to seven agricultural projects. Loans were received for the development of crop and livestock facilities in 2014-2016.

"The changes will allow the credited enterprises to extend all existing loans for construction, reconstruction, modernization of greenhouse complexes, from 8 to 12 years," Deputy Prime Minister and Minister of Agriculture Ilshat Fazrakhmanov said.

It is planned to provide borrowers with a delay of up to one year to pay the principal debt to reduce the credit burden, considering the emerging economic situation due to the pandemic.

Another change: it will be possible to conclude agreements on providing subsidies between the Ministry of Agriculture RB and borrowers through the "Electronic Budget".

/translated by Tatiana Aksyutina
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