Financing for loans for the development of agricultural production has been increased
Taking into account the growing demand of farmers for loans for the development of production, the financing for the implementation of the loan program has been increased from 27.8 million euros to 30.4 million euros. This is foreseen by the amendments developed by the Ministry of Agriculture supported by the government on Tuesday, December 19, Cabinet of Ministers 24.07.2018. in regulations no. 446 “Regulations on the loan program for agricultural, rural and fishery economic operators”.
Along with the changes in the regulations, the maximum loan amounts have also been increased: for investment loans from 100,000 to 250,000 euros, for loans for the purchase of current assets from 35,000 to 50,000 euros. The maximum amount for loans for the purchase of developed and undeveloped land has also been increased from 35,000 to 50,000 euros, and the turnover threshold for economic operators has been increased from 150,000 to 250,000 euros.
Amendments to these regulations will promote the involvement of citizens in economic activity and increase the availability of financial resources for those performing economic activity in the agriculture, rural development and fisheries sectors. The loan program for agricultural, rural and fishery economic operators is implemented by state-owned capital company “Altum”.
Regulations “Amendments to the regulations of the Cabinet of Ministers of July 24, 2018 No. 446 “Rules on the loan program for agricultural, rural and fisheries economic operators” will enter into force the day after their publication in the official publication “Latvijas Vēstnesis”
Information source: Ministry of Agriculture