1 Dec 2022 11:15

Russian govt to provide 12.6 bln rubles to support agricultural exports

MOSCOW. Dec 1 (Interfax) - The Russian government will inject 12.6 billion rubles into the capital of Russian Agricultural Bank (RusAg) to support agricultural producers participating in export programs under the federal Agribusiness Product Exports federal project.

Prime Minister Mikhail Mishustin has signed the order for the funding, the government's press service reported.

"The additional financing will enable exporters of agribusiness products to increase working capital, restructure loans, eliminate risks related to settlements in foreign currency and supply disruptions, and ultimately increase exports of agricultural products," the press release said.

The funding will make it possible to carry out export projects totalling 34 billion rubles by the end of 2023 and 68 billion rubles by the end of 2024, the order said.