Russia: Dairy farming included among priority areas for preferential lending

The changes were approved by order of the Ministry of Agriculture of Russia dated 06.11.2024 No. 666 and registered by the Ministry of Justice of Russia on December 10, 2024. Thus, dairy enterprises will be able to take advantage of preferential loans at reduced rates. The maximum interest rate for borrowers will be 30% of the key rate of the Central Bank + 2%, and authorized banks will be subsidized by the state in the amount of 70% of the Central Bank of the Russian Federation rate when issuing a loan. Dairy farmers will be able to receive a preferential loan at 8.3%, which is 4.2% less than the previously offered terms. The funds can be spent on the construction, reconstruction, modernization and technical equipment of dairy enterprises - machinery, equipment and automation equipment, the purchase of young dairy cows and breeding products, feed, veterinary drugs, spare parts for agricultural and cargo equipment, as well as ...