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Ministry of Agriculture of the Russian Federation

The list of soft loans destinations for export-oriented manufacturers of agricultural products is updated

29 May, 2020
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The Russian Prime Minister Mikhail Mishustin signed the Decree No. 748 as of May 26, 2020 expanding the list of areas for targeted use of soft loans for farmers, who joined the advanced competitiveness program.

The Decree of the Government of the Russian Federation provides that companies representing fishing and fish farming industries, forest resource processing, and those engaged in fish, crustaceans and mollusks conservation shall be able to take advantage of investment and short-term loans (up to 15 years and 1 year, respectively). These measures are aimed at increasing export-oriented agricultural output and supporting the domestic producers amid the coronavirus outbreak.
The document also introduces some more subjects, such as organizations engaged in the sales of agricultural products and respective transshipment and (or) storage services (wholesale distribution centers, infrastructural and grain elevator facilities).
Earlier, the Government of the Russian Federation abolished the commitments ‘2020 for increasing exports by farmers, which concluded the agreements on advanced competitiveness, making thus the soft loans more accessible throughout the period of economic constraints caused by COVID-19.

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