The Russian Ministry of Agriculture projected the need for extra finance for preferential lending to the agricultural sector at 45 bln rubles ($467.54 mln) due to a rise in the key rate, Russia’s Deputy Prime Minister Victoria Abramchenko told reporters, Azernews reports, citing TASS.

"Of course, the Ministry of Agriculture calculated this additional requirement. It reaches around 45 bln rubles, according to the ministry," she said.

Earlier, Russia's Minister of Agriculture Dmitry Patrushev said that preferential loans to farmers would be resumed by the end of September 2023.