Dairies and meat processing plants in the Vitebsk region will receive subsidies to cover interest on loans

The government will provide subsidies to dairy and meat processing plants to cover part of the interest on loans. The corresponding Resolution of the Council of Ministers of December 9, 2020, No. 715, was officially published today on the National Legal Internet Portal, reports BELTA.

The government will provide subsidies to dairy and meat processing plants to cover part of the interest on loans. The corresponding Resolution of the Council of Ministers of December 9, 2020, No. 715, was officially published today on the National Legal Internet Portal, reports BELTA.

The loans are for current operations of eight enterprises: Verkhnedvinsk Butter and Cheese Factory, Vitebsk Meat Processing Plant, Glubokoye Condensed Milk Plant, OJSC "Moloko", Orsha Meat Canning Plant, Polotsk Dairy Plant, Postavy Dairy Plant, Glubokoye Meat Processing Plant.

The subsidies are allocated from the republican budget funds intended for other agricultural matters.

For loans in Belarusian rubles, subsidies are provided at 30% of the National Bank's refinancing rate. For loans in foreign currency, subsidies are provided at 30% of the loan rate, but not exceeding 2.5% per annum, with subsidies paid in Belarusian rubles at the official National Bank exchange rate.

The Resolution enters into force upon its official publication and applies to relations that arose from February 27, 2020.