Introducing digital subsidies for farmers: a new phase of agricultural sector financing

The digital ruble is an electronic version of the national currency, offering a high level of security and convenience. Its main advantage is the ability to instantly make payments and automate processes, which is critical for monitoring the intended use of funds.

The subsidy testing process involves several stages. The Ministry distributes subsidies among regional agricultural producers based on specified terms of use, such as for the purchase of equipment or feed. This data is sent to the digital ruble platform, where algorithms for automatic verification are generated. Agricultural enterprises, as VTB clients, gain access to information on accrued subsidies through their online account, preventing misuse of funds.

Advantages of the new mechanism:

1. Process acceleration: automation reduces payment processing time, which is especially important in the agricultural sector.
2. Automated controls: reduce the risk of fraud and misuse of funds.
3. Scalability: Successful implementation could pave the way for the digital ruble to be used in other areas of government support.

Thus, testing digital subsidies represents a step toward an innovative future for the agricultural sector and the country's entire economy, opening up new horizons for business.