Lukashenko instructs to set up fund to support highly-profitable farms

MINSK, 27 June (BelTA) – Belarus President Alexander Lukashenko ordered to set up a fund to support highly-profitable farms during his working trip to Gomel Oblast on 26 June, BelTA has learned.

The decision was made after the head of state paid a visit to Otor Company in Chechersk District to get familiar with the organization of cattle breeding. The President stressed that loans should be given only to those who can pay them back in time.

The Agriculture and Food Ministry has been instructed with the development of the fund. The fund will allocate concessional loans to agricultural companies for investment projects to upgrade the production, purchase equipment, technologies and the construction of manufacturing facilities.

Over the last five years Otor Company has increased milk production by 70% to the annual 7,900 tonnes. The profitability of the sales of livestock products makes up 28%. The average monthly wage is Br6.8 million.