Prime Minister Vladimir Putin signed Resolution No. 140 of February 24, 2009, on allocating federal budget funds in 2009 to subsidise regional budgets for partial compensation of short-term bank interest to agricultural producers and all agribusinesses regardless of their ownership or organisational structure, farms, and agricultural consumer cooperatives. The compensation will apply to all loans provided by domestic lenders or taken from rural consumer credit cooperatives.
In compliance with Part 6 of Article 25 of the Federal Law on the Federal Budget for 2009 and the Planning Period of 2010-2011, the Russian Government hereby resolves:
1. To allocate additional federal funds earmarked to support the specific economic sectors in 2009, including:
12.1 billion roubles to subsidise regional budgets for partial compensation of bank interest to agricultural producers and all agribusinesses regardless of their ownership or organisational structure, farms, and agricultural consumer cooperatives. The compensation will apply to all loans provided by domestic lenders, or taken from rural consumer credit cooperatives in 2004 through 2010 for two to ten years; and
4.9 billion roubles to subsidise regional budgets for partial compensation of bank interest to agricultural producers (except private vegetable gardens and agricultural consumer cooperatives) and all agribusinesses regardless of their ownership or organisational structure, farms, and agricultural consumer cooperatives. The compensation will apply to all loans provided by domestic lenders, or taken from rural consumer credit cooperatives in 2007 through 2010 for up to one year.
2. The subsidies stipulated in Clause 1 of this Resolution will be issued according to a procedure approved by Government Resolution No. 90 of February 4, 2009 on distribution and provision of federal subsidies to constituent regions of Russia in 2009-2011 for partial compensation of bank interest on loans drawn from domestic lenders and rural consumer credit cooperatives.