A draft decision has already been published on the regulatory acts portal, and industry experts are actively discussing the upcoming changes.
Let’s examine the key new measures that will significantly alter the financial models of many agricultural enterprises.
The state does not plan to scale back financial support but is taking a firm stance on making it more targeted.
Budget subsidies will now be granted subject to strict controls regarding the repayment of the principal debt.
Strict parameters for investment loans
The main change concerns the timeline for starting principal repayment. With the exception of loans for machinery, borrowers will be required to begin repaying the debt no later than three years after the loan is issued.
If funds are disbursed in stages, this period is calculated from the date the first tranche is provided; if disbursed in full, it starts from the moment disbursement is completed.
The Ministry of Agriculture plans to implement this new rule for fully disbursed loans starting February 1, 2027.
Additionally, a mandatory annual payment of at least 7% of the principal amount is being introduced.
For loans intended for the purchase of equipment and specialized machinery, the existing procedure remains in place: monthly payments in equal installments must begin no later than 18 months after issuance.
Preferential terms for deep processing
The Ministry has decided to maintain a special, more lenient status for strategic priority areas.
These include projects involving the creation and modernization of high-tech facilities for the deep processing of raw materials (such as the production of feed and food additives, amino acids, vitamins, enzymes, and modified starches).
For such capital-intensive projects, the start of debt repayment may be deferred for up to five years.
The minimum annual payment remains 7%, but the payment due in the final year is strictly capped: it cannot exceed the total payments made over the preceding two years.
Thus, the state is reserving the longest-term financing for high-value-added sectors.
Banking Risks and Protection for Agricultural Producers
Credit institutions may be permitted to unilaterally raise interest rates on loans that have lost their priority status, subject to a cap of 50% of the Central Bank’s key rate plus 2 percentage points.
At the same time, the Ministry proposes protecting borrowers from the loss of preferential terms in cases where a bank fails to receive a subsidy on time due to budget shortfalls.
Conditions for Force Majeure
The document allows for the rescheduling of deadlines under competitiveness agreements by up to 24 months in the event of external shocks, sanctions, or sharp currency exchange rate fluctuations.
Given the new lending rules, agribusinesses will need to calculate cash flows more precisely, particularly when implementing long-term projects.
