Russia to allocate over 406 billion rubles by 2024 to support agricultural exports
The project committee of the Russian national project “International cooperation and export” approved the federal project “Export of agricultural products”.
406.8 billion rubles have been allocated for its implementation by 2024. Financing will be aimed at increasing the volume of Russian agricultural production, building effective infrastructure in the sector, removing tariff and non-tariff restrictions on foreign markets, as well as creating a system for promoting Russian agricultural products abroad.
To achieve the export goal of $45 billion by 2024, Russia plans to increase exports of products of oil and fat industry, food and processing industry, fish and seafood, grain, meat and dairy products, and other agricultural goods. All promising agricultural products will get strategic plans, the project will also determine key markets for export - China, India, Japan, countries of South-East Asia, the Persian Gulf, and Africa.
One of the key mechanisms for the implementation of the project will be a comprehensive program of international competitiveness. Within its framework, producers of agricultural products will get loans at a preferential rate for the development of production in return for obligations to increase exports of agricultural products.