Russian Fisheries Companies Get Opportunity to Take Credits for Production Development

The Fish Site
by The Fish Site
15 October 2007, at 1:00am

RUSSIA - From January 1st of 2008 Russian fisheries companies will get an opportunity to take credits for development of their production. The Head of Rosrybolovstvo Andrei KRAINIY reported it at the meeting with the representatives of fish industry in Khabarovsk

"We signed an agreement with Rosselkhozbank (Russian Agricultural Bank) that it will grant 50 billion Rubles of credit resources a year for development of fish industry. The bank will grant credits to fishermen on 12% a year," Andrei KRAINIY said.

According to his words, it's necessary that the Government subsidizes 8% of credit rate both for agricultural producers and fishermen.

"It's being discussed now," KRAINIY said. "4% a year that fisheries companies will pay for their credits is even less that in Europe and America."

Source: VladivostokTimes