France to export cattle to Russia on credit
France is to provide a credit facility for beef cattle exports to Russia under a protocol signed by the two countries on Monday (December 10), according to Sergei Dankvert, Russia’s first deputy agriculture minister.
Dankvert said it was agreed that through the facility France would allow the export of up to 10,000 head of beef cattle per year to Russia at a price per head of about $2,000. The credit will take the form of a loan that can be extended to five or seven years with guarantees from Russian banks, most importantly amongst them Rosselkhozbank.
The Tyumen region, which has already bought 500 beef heifers with its own funds, will be the first to get such a credit. France will also provide technical help over the next three years for each contract.
