Russian Prime Minister Mikhail Mishustin signed a resolution to ease the repayment of preferential investment loans for livestock companies affected by bird flu and African swine fever in 2020.
Pig and poultry farms that are restoring production after outbreaks of highly contagious infectious diseases are entitled to extend the repayment period of a preferential investment loan for livestock development at a rate of up to 5%.
In addition, borrowers can roll over previously received loans for the construction, reconstruction and modernization of assets intended for the deep processing of agricultural raw materials. According to the resolution, the term of crediting, taking into account the prolongation, is limited to 12 years.
To take advantage of the introduced benefits, the management of the enterprise must conclude an additional agreement with the bank.
The government expects that the decision will help companies that have suffered significant economic losses from ASF and highly pathogenic avian influenza to repair the damage, successfully implement investment projects and uninterruptedly supply food products to the market.
In early March, a package of measures to support industry enterprises was discussed at a meeting with representatives of the National Union of Poultry Breeders in the Russian Ministry of Agriculture regarding the rapid rise in prices for chicken eggs and broiler MEAT.