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RF govt to earmark 9 bIn rbls for renovating agro equipment

During the first year of the program implementation, 4,500 units of equipment are to be renovated at the expense of the allocated funds

Photo ITAR-TASS

Photo ITAR-TASS

MOSCOW, February 11 (Itar-Tass) —— Over three years, the Russian government will earmark nine billion rubles for renovating agricultural equipment, Russian First Deputy Prime Minister Viktor Zubkov said at the 23rd congress of the Association of Farms and Agricultural Cooperatives of Russia on Saturday.

According to Zubkov, 3.5 billion rubles will be allocated from the federal budget and five billion rubles from the authorized capital of the OAO Rosarolizing for the program of renovating agricultural equipment this year. As a result, 8.5 billion rubles will be earmarked for financing the program in 2012.

During the first year of the program implementation, 4,500 units of equipment are to be renovated at the expense of the allocated funds. Moreover, as Zubkov stressed, we should begin implementing the program already in February-March so that agricultural producers could get equipment by the beginning of spring field works.

The program envisages advantageous conditions for farmers: the lack of payments on account and the deferment of the first payment, the term of leasing up to 10 years.

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