The Ministry of Agriculture of the Russian Federation in 2023 will allocate 19.6 billion rubles for preferential rural mortgages.

The Ministry of Agriculture of Russia promises in 2023 to allocate 19.6 billion rubles of subsidies for preferential rural mortgages, which will improve living conditions for more than 9.5 thousand families, as well as keep the interest rate on those loans that were issued to people earlier at the same level.

The ministry's website reports that rural mortgages with a rate of 0.1 to 3 percent per annum with a loan term of up to 25 years.

"Mortgage is one of the most popular tools of the state program "Integrated development of rural areas". Since the beginning of its implementation in 2020, authorized banks have issued more than 106.6 thousand preferential loans totaling 212 billion rubles," the ministry said.

Thanks to a mortgage at an affordable rate, rural residents were able to build more than 5.8 million square meters of new housing.

This year, more than 9.6 thousand people have already used preferential rural mortgages.

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