The government will provide subsidies to agricultural organizations to pay interest on loans

March 11, MINSK. The government will provide organizations of the agro-industrial complex in 2022 with subsidies from the republican budget to pay part of the interest on bank loans. This is provided for by the Resolution of the Council of Ministers No. 119 of March 3, 2022, which was officially published today on the National Legal Internet Portal, BelTA informs.

Among the recipients of subsidies are Verkhnedvinsk Butter and CHEESE FACTORY, Vitebsk MEAT Processing Plant, Glubokoe Dairy Canning Plant, OAO Moloko (Vitebsk), Orsha Meat Canning Plant, Polotsk Dairy Plant, Postavy Dairy Plant, Glubokoe Meat Processing Plant.

Subsidies for loans granted in Belarusian rubles will be paid at the rate of 30% of the National Bank's refinancing rate in effect in the relevant interest accrual period. For loans in foreign currency - in the amount of 30% of the loan rate, but not more than 2.5% per annum (in Belarusian rubles at the official rate of the NATIONAL BANK, set on the day the subsidies are transferred).

The Decree comes into force after its official publication and extends its effect to relations that arose from January 1, 2022.