Russian government expands loan payment terms for greenhouse construction

The government of the Russian Federation have expanded the terms of paying back loans with government support provided for greenhouse construction. The corresponding decree has been posted on the site of the Cabinet of Ministers.

“The growers who have taken a loan with government support for the construction, reconstruction and modernization of a greenhouse complex, could pay it back within 12 years. Such a decree has been signed by the Prime Minister of the Russian Federation, Mr. Mikhail Mishustin”, reads the memorandum to the decree.

Previously, loans were given for eight years maximum; now the growers can sign an amendment to the agreement with the bank, allowing them to prolong the terms of the loan disbursement period. The norm relates to loan agreements concluded before 2017. Apart from that, agricultural enterprises got the right to delay capital payments for 2020 on all loans with state support, provided before 2017.

“The measures would help preserve the financial and economical stability of the agricultural growers hampered by certain limitations related to the new coronavirus”, reads the memorandum.


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