The Ministry of Economy expands support measures for farmers affected by drought

The Guarantee Fund of the Republic, subordinate to the Ministry of Economy of the Republic of Tatarstan, has launched a new preferential product "Agro-drought". It is designed for agricultural producers who have suffered losses due to the abnormally hot summer in Tatarstan. 

Under the terms of the program, the Guarantee Fund of the Republic of Tatarstan provides a guarantee of up to 10 million rubles in the amount of up to 70% of the loan amount for the period of providing borrowed funds by a financial institution + 120 days.  Until the end of this year, farmers operating in rural areas (farms, sole proprietors, Agricultural consumer cooperatives and other SME entities) can benefit from the support.

"In the conditions of drought, it is extremely important to ensure the food security of the republic. As a support institution, we help small and medium-sized businesses to attract debt financing. This is especially important for agricultural producers, since this category of entrepreneurs often does not have enough own collateral to cover bank risks. Under the product "Agrozasukha" we provide a guarantee of up to 70% of the loan amount" – said the director of the Guarantee Fund of the Republic of TatarstanRustem Mukhamedshin.

Since the beginning of 2021, the Fund has already supported 32 agricultural producers of the republic in the amount of 106.5 million rubles, which allowed them to attract 1.7 billion rubles to business. Farmers requested credit funds for seasonal field work, the purchase of machinery, fertilizers and fuel.

Agricultural producers can also apply to the Unified Lending Center of the Guarantee Fund of the Republic of Tatarstan. Its specialists will tell you about measures to support entrepreneurs free of charge, help you choose the best loan product, collect a package of documents and send an application to banks.