Russian agricultural machinery producers receive RUB 13.7 bn
A total of RUB 13.7 billion has been allocated to the Russian Ministry of Agriculture from the Reserve Fund under a government decree to provide subsidies to agricultural machinery manufacturers, the Russian government said in a press release on its website.
The funds will be used to purchase 21,251 pieces of agricultural machinery and will stimulate the production of domestic agricultural machinery.
The subsidies are being granted as part of the Technical and Technological Modernization and Innovative Development sub-programme of the State Programme for the Development of Agriculture and the Regulation of Agricultural Product, Raw Materials, and Food Markets in 2013–2020.
The decision will stimulate the production of domestic agricultural machinery and increase the supply of such machinery to agricultural producers.