Over 330 bln rubles allocated to subsidize agricultural loans in Russia in 2024 - Deputy PM

MOSCOW. Dec 26 (Interfax) - State support for subsidized loans in Russia's agricultural sector in 2024 totaled 330 billion rubles, and the same level of funding is planned for 2025, Deputy Prime Minister Dmitry Patrushev said.

"Preferential lending remains an important tool for supporting farmers. Despite the current key interest rate, this mechanism continues to function. This year, more than 330 billion rubles have been allocated for it, and in 2025 it is planned that lending will remain at the same level," Patrushev said on the Rossiya-24 television channel.

Agreement has also been reached to allocate more than 28.5 billion rubles in 2025 to subsidize new loans specifically for the sowing campaign.

Overall, the government has allocated more than 650 billion rubles to support the agricultural sector this year, Patrushev said. "This year has been extremely challenging for agriculture, but despite all the difficulties, the industry has maintained stable production levels," he said. "Thus, our agro-industrial sector fully ensures the country's food security and guarantees the fulfillment of export commitments," he said.

Discussing the upcoming sowing season, Patrushev said that the priority is on domestically bred seeds. The Agriculture Ministry is currently preparing a plan for using domestic seeds in 2025. "It needs to be approved promptly and sent to the regions," he said.