Gov’t Subsidizing Farmers Affected by War

Initiatives

Vladimir Kayukov via Shutterstock.com

In order to deal with the Ukrainian grain crisis caused by the war, the government decided on a new interest subsidy program Minister of Agriculture István Nagy announced on his Facebook page. 

Nagy explained that, in order to ensure the uninterrupted continuation of production and the food supply, the government is creating the conditions for the interest rate related to the Agriculture Széchenyi Card program to be 5%.

The minister highlighted that agricultural enterprises with a maximum credit limit of HUF 100 million can use the increased interest rate support. Producers have 9 months from the entry into force of the decree to enter into a credit agreement with a maximum term of 3 years.

Nagy emphasized that the measure contributes to the uninterrupted continuation of production and the provision of food supplies.

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