October 30 2002, 13:57 Vedomosti

Russia: government provided financial guarantees of grain investments

President Putin has signed amendments into the law of state budget 2002, according to which RUR6 billion (US$188 million) will be disbursed to Federal Agency for Food Market Regulation as state guarantees of grain interventions. The loan will be allocated by Sberbank. Another RUR500 million (US$15.7 million) of budget funds will be allocated for subventions for usage of the loan. This sum was not used by Agriculture Ministry in 2001.

Government has been planning to start grain intervention purchases on November 5.