"Total loans issued this year for the development of the Russian agro-industrial complex amount to roughly 800 billion roubles. Today, we have coordinated this amount with the leading banks crediting agriculture-Vnesheconombank, Sberbank, Gazprombank and MDM Bank," Mr Zubkov said while summarising decisions made at the meeting. He added that a decision had been made at the meeting to subsidise loans for the purchases of Russian-manufactured farm machinery. "70 billion roubles have been earmarked for such loans this year," he said.
Mr Zubkov drew attention to problems involved in issuing loans for spring sowing. "We need the utmost clarity on the demand for credit resources and on their sufficiency for the purchases of mineral fertilisers, fuel, lubricants, seed, pesticides and farm machinery. I would like the Minister of Agriculture to bear this in mind during the year's first meeting of the headquarters for spring sowing preparations, which will take place in Stavropol next Saturday," he said.
Bank managers told the meeting participants about their work to reduce loan interest for farmers.