Ministry of Agriculture offers Ministry of finance to change method of subsidy calculation for credits of locally grown producers, as derivative from key rate of Russian Central Bank (current – 17%), instead of bank rate (8.25%).
Advances portfolio (or issued but not repaid yet total credits) of farm credit in Russia counts about 2 trillion RUR. The state compemsate part of interst rate from federal budget: up to 80% of bank rate for poultry farming and pigstry, up to 100% – for cattle.
Early in 2014 average cost of long duration farm credita was 14-15%. Big producers got effective rate (or cost of credit per year including all expenses) for investment credit at 2-4.5% until now.
Financing of state programme of Russian agricultural development till 2020 will count 2.126 trillion RUR. The govenrment intends to invest 185 trillion RUR in the industry in 2015.