Farmers who suffered losses due to African swine fever (ASF) in 2020 will be able to extend the repayment period of state-supported loans. The corresponding decision is posted on the website of the Cabinet of Ministers.
We are talking about preferential investment loans at a rate of up to 5% per annum to cover the costs of construction, modernization and reconstruction of production facilities, as well as the purchase of machinery and equipment.
To extend the loan, the agricultural producer needs to conclude an additional agreement with the bank. At the same time, the loan term, taking into account the prolongation, should not exceed 12 years.
The Cabinet noted that this measure will help support agricultural companies that have encountered difficulties due to the spread of highly contagious livestock diseases, as well as help complete investment projects and organize uninterrupted food supplies to the market.
Earlier, a similar decision was made on loans issued for the development of the livestock sub-sector.
In addition, the Ministry of Agriculture wants to allow agricultural producers to use soft loans for the digitalization of production and the purchase of funds for labeling dairy products.