First-Half Loans To Fish Farms.
17 August 2007RUSSIA - Russia's Agriculture Ministry reports that RUR1.1 billion (USD39.2 million) in loans was given to fish farms in Russia in the first half of this year under the national agricultural development project, according to the Interfax news agency.
The fish farming sector has been included in the project for the first time this year. A total of 51 Russian regions are participating in the national project's programme for commercial fish farming.
Eight-year loans are provided for the construction, renovation and modernisation of fish farms, with five-year loans extended for the purchase of breeding fish and fish farm equipment. Russia's Agriculture Minister, Alexei Gordeyev, said that having secured support under the national project, fish farming is now considered to be a key sector of the Russian fishing industry.
The Russian government plans to provide RUR80 million (USD3.11 million) in subsidies on eight-year loans and RUR40 million (USD1.55 million) in subsidies for five-year loans to commercial fish farmers this year.
TheFishSite News Desk
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