Dairies and meat processing plants in the Vitebsk region will receive subsidies to pay 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 dated December 9, 2020 No. 715 was officially published today on the National Legal Internet Portal, reports BELTA.

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

Subsidies are allocated from the republican budget funds provided for other agricultural issues.

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

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