From next year, banks involved in preferential lending to companies of the agroindustrial complex (AIC) at a rate of five percent per annum, will provide a subsidy to compensate for lost income in the amount of one hundred percent of the key rate of the Central Bank.

The resolution, which should increase the availability of credit in agriculture, signed on December 29 by Prime Minister Dmitry Medvedev, said in a statement on the government website.

The document was prepared by the Ministry of agriculture. Subsidies will be issued to the credit organisations from the Federal budget. To qualify for these systemically important banks on the market, as well as those that will take the Ministry of agriculture for this purpose. The main selection criteria – equity of over 20 billion rubles, the existence of special loans and programs for agricultural companies.

Agricultural producers will be able to choose the Bank in which it will receive a soft loan. Debtors will need to meet several criteria, including not having overdue loans may not be on the point of bankruptcy, liquidation or reorganization.

"The decree comes into force from 1 January 2017, as enterprises and organizations of agro-industrial complex need to attract short-term credit for replenishment of circulating funds for the spring sowing campaign", – specified in the message of the government.