The grace period for loans to greenhouse farms is extended by 5 years

A presidential decree "On additional measures to increase the efficiency of greenhouse farms" has been adopted.

The decree will create more favourable conditions for the economical operation of greenhouse farms and cold stores.

The terms of repayment of credits in national and foreign currency, allocated to greenhouse economies and cold stores, are set in general for 14 years, and the grace period is prolonged from 3 to 5 years.

To provide greenhouse farms with working capital, banks will grant a 1-year loan with a 6-month grace period.

In this case, these loans will be financed from a budget loan allocated to the agency for the development of horticulture and greenhouse farming.

Bank loans in foreign currency for working capital required for production of export products in greenhouse farms will be provided at the expense of the Export Promotion Agency at a rate of 4% per annum (of which the bank margin is 2%).

The repayment terms of the allocated loans are adjusted according to the timing of harvesting and sale of the crop in the greenhouses.

No penalties are charged for late payment of natural gas to greenhouse farms from 1 October 2022 to 1 April 2023 as an exception.