PRESIDENTIAL DECREE OF THE REPUBLIC OF BELARUS

of June 13, 2008 No. 332

About construction of milk and commodity farms

For the purpose of accomplishment of the tasks finished by the State program of revival and development of the village for 2005-2010 in production of milk I decide:

1. Perform construction of 118 milk and commodity farms till October 1, 2009.

2. Offer Belagroprombank open joint stock company (further - bank) till October 1, 2009 to issue to agricultural organizations according to the lists determined by regional executive committees (further - the organizations), credits to the amount of 1000 billion rubles for financing of construction of milk and commodity farms according to appendix.

The specified loans are granted to the organizations for a period of up to 12 years with their repayment from October 1, 2009 to September 30, 2021 without interest payment for use of them.

3. Offset losses of bank in 2008-2021 on the credits issued according to Item 2 of this Decree at the expense of the means of the republican budget provided in republican fund of support of producers of agricultural products, food and agrarian science on compensation of losses of banks in connection with issue of soft credits to the organizations of agro-industrial complex, incentivization of percent on the credits obtained by these organizations in Belarusian rubles in the amount of annual interest rate 6,5.

4. For accomplishment of obligations on repayment of the credits issued according to Item 2 of this Decree guarantees are provided:

The governments of the Republic of Belarus - in repayment of the credits issued to the organizations which property is in republican property, and to the organizations which share (share) in authorized fund belong to the Republic of Belarus (irrespective of finding of shares (shares) of such organizations also in utility property), the unitary enterprises which founders are open joint stock companies which share (share) in authorized funds belong to the Republic of Belarus;

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