The Ministry of agriculture has tabled the amended rules of preferential crediting of agricultural organizations
Photo: TASS/Alexander Ryumin
The Ministry of agriculture still expects to launch in 2017, the mechanism of preferential crediting of agricultural companies. Relevant project the Agency has already issued for public discussion. As follows from the document, under the new scheme agroinvestor, referring to the authorized Agency banks for short or an investment loan, can count on the loan at 5% per annum. While subsidies of key refinancing rate, the state will return directly to the Bank. However, farmers and heads of industry unions while I doubt that such a scheme would be viable.
As have informed “news” heads of industry agricultural unions, the project has already been discussed at the meeting in the Ministry of agriculture on October 10. In the document, in particular, stated that agriculture projects can count on the loan at the rate of 5%. The amount of short-term loan (up to one year inclusive) on the development of crop and livestock production should not exceed 1 billion rubles, the investment (from two to 15 years) — 8 billion rubles. The application for a concessional loan, the company sends one authorized by the Ministry of agriculture banks. Checks the company considers the application and makes a decision about a possible loan by the Bank itself. Lost revenue in the amount of 100% of the key rate of the Central Bank, the government directly compensates the financial institution.
Until now, preferential loans for agricultural producers was carried out in the framework of project financing: companies that wish to obtain a soft loan was provided to the Ministry of agriculture projects and the Agency on a competitive basis chose the most worthy applications. In fact, farmers would receive credit under the same 5% (or even lower), but the subsidies received are not banks, but agricultural companies themselves.
Interviewed by “Izvestia” market participants and representatives of trade unions agreed that the document needs work.
The President of EkoNiva GC (Russia’s largest producer of raw milk) Stefan Duerr expressed concern that the new scheme will not function. When considering applications of farmers each Bank will be guided by its own criteria, and some of them will cease to lend to agriculture, he said. According to the businessman, now banks have to compete for customers by offering different interest rates on loans. Under the proposed system, the banks will receive from the state the same amount. It turns out, says Stefan Duerr, the banks will earn equally “strong” and “weak”.
Comments on the draft was expressed by the representatives of the branch agricultural unions at a meeting in the Ministry of agriculture on October 10. So, the head of the Executive Committee of the National meat Association Sergei Yushin, President of the National vegetable of the Union, Sergey Korolev is concerned about the reduction in the number of banks authorized to operate under the new rules. Them according to the sectoral managers, only 10. Thus, monopolization of participants in the program. At the same time, according to Sergey Yushin, not all of the authorized banks are major creditors of projects in the agricultural sector.
Regional producers in crop production and the meat industry are concerned about the impossibility of lending with state support to small regional banks. There is often profitable for them and convenient to take short working capital loans, particularly for seed, purchase of fertilizers, fuel, etc., — he explained.
In addition, he said, before the implementation of the mechanism is only 2.5 months, during which all parties to the process have to accomplish a lot organising.
— There is no guarantee that it will be done on time by all market participants, since the new scheme includes the change of many internal procedures, especially in the banking sector, — said Yushin.
Provided that your old gear for new loans will no longer work and a new one will be implemented, this may result in the suspension of preferential crediting of agricultural projects for quite a long time — until there is full clarity on how it works, concludes Sergey Yushin.
The experts also draw attention to the fact that the amount allocated for interest rate subsidies is very small — only allocated 5 billion rubles. And the annual need of Russian agriculture only in current resources, according to experts, is not less than 300 billion roubles.
We are also opposed to introduced restrictions on lending to borrowers. Now it contains 1 billion and 8 billion rubles in short-term and investment loans. And we have a larger, more expensive projects at more than 10 billion rubles. And short term credits there are more than 2 billion rubles, — said Sergey Korolev.
He also considers it mandatory to record in the document comprehensive requirements for banks in the provision of soft loans, which is in the project no.
Even if the state at some point not enough money for subsidies to banks should be prohibited from raising rates on loans more than the prescribed 5%, — concluded the expert.
Operational comments in the savings Bank and Rosselhozbank “news” is not provided.