Russia distributes approximately US$1.1B in agriculture aid to regions in 2014
March 4, 2014
– The government has distributed RUB 41.5bn (approx. USD 1.1bn) subsidies among regions for support of agriculture in 2014, the Cabinet's press service said in a statement.
Specifically, this included subsidies to co-finance expenditure commitments related to the reimbursement of part of interest rate on investment loans.
Around RUB 9.12bn (approx. USD 250.6m) was earmarked for crop farming in 76 regions, while RUB 30.44bn (approx. USD 836.7m) was allocated to animal farming in 77 regions.
Approximately 1.9bn (approx. USD 52.2m) will be spent on providing grants to set up and develop farms and one-time financial help to equip start-up farmers.
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