Analysis of the directions of activation of lending to the agro-industrial complex and the economy of the russian federation

Issue № 8, 2020, article № 4, pages 32-45

Section: Economic mechanism of managing

Language: Russian

Original language title: АНАЛИЗ НАПРАВЛЕНИЙ АКТИВИЗАЦИИ КРЕДИТОВАНИЯ АГРОПРОМЫШЛЕННОГО КОМПЛЕКСА И ЭКОНОМИКИ РФ

Keywords: GOVERNMENT SUPPORT, AGRICULTURE, SUBSIDIES, INTEREST RATES, BANK LENDING, CREDIT INSTITUTIONS, PRUDENTIAL REGULATION, BASEL III

Abstract: The task of increasing the availability of credit resources is one of the most important conditions for the sustainable development of the agro-industrial complex and the economy as a whole. In the context of an economic slowdown and worsening conditions for raising capital in international financial markets, the urgency of developing domestic sources of financing has only increased. The agro-industrial complex remains in high demand for construction and modernization of production and infrastructure facilities. Given the length of the production and financial cycle, agriculture has a higher demand for short-term loans compared to other types of economic activity. At the same time, agriculture is a high-risk industry, characterized by high debt load, sensitivity to the cost of borrowed resources. Partially these problems are mitigated by state support for the industry with the system of concessional lending as a key component. The article provides an integrated approach to enhancing the credit process. In addition to the development of the existing mechanism for the partial interest rate compensation other measures have been proposed to provide the agro-industrial complex and the economy as a whole with the necessary financial resources to ensure economic growth. To this end, additional incentives are justified to expand lending to small businesses. Other measures include reducing credit risks through agricultural insurance with state support in the lending process, further development of the guarantee system, use of specialized refinancing instruments of the Bank of Russia, radical restructuring of the Project Financing Factory mechanism to increase the flow of investment projects, improvement of the system of prudential banking regulation, wider application of incentive banking regulation.

Authors: TSkhovrebov Mels Pavlovich, Sokolova Elena IUrevna