MOSCOW, February 5. /TASS/. Authorities of the Nenets Autonomous Region will allocate for support of the local dairy industry 212 million rubles ($3.7 million), where most money will come from the regional budget, the portal of regional state services reported on Monday.
"In 2018, the dairy industry will receive 212 million rubles, where most part will come from the regional budget. The money will be used for support of the dairy industry in the region… Individual entrepreneurs, involved in dairy, will also receive state support solely from the regional budget, without a federal co-financing. The Nenets Region’s budget allocates for this support another 1.3 million rubles ($23,000)," the report reads.
The regional department of natural resources, ecology and agriculture has inked the first agreement with the Russian Ministry of Agriculture on a 1.2-million ($21,000) subsidy from the federal budget.
In a few days, the local government will sign an agreement on support of reindeer breeding, where the subsidy would be 35.5 million rubles ($624 thousand).
With this annual state support, the local agricultural and reindeer breeding companies support the business profitability and develop the production, the department said.