Russian govt to allocate 60 bln rubles to support preferential lending to farmers - Mishustin

MOSCOW. June 25 (Interfax) - The Russian government will allocate 60 billion rubles to support preferential lending to agricultural producers.

"In order to reduce the financial burden on agricultural enterprises, we will allocate around 60 billion rubles from the federal budget for the provision of subsidies to credit organizations. These funds will make it possible to fulfill obligations under more than 41,000 preferential loans that farmers took out for producing and processing agricultural products, and producing veterinary drugs, enzymes, feed and food additives," Prime Minister Mikhail Mishustin said at a government meeting on Thursday.

Such loans were provided both for short terms and as part of long-term investment projects, Mishustin said.

"We expect that such measures will help preserve the sustainability of farms, and high-quality domestic food products will continue to be available to Russian citizens," he said.