RUSSIA TO USE COMMERCIAL BANK FUNDS TO BUY GRAIN.

Commercial banks are set to lend the government three trillion rubles for grain purchase, according to First Deputy Minister of Agriculture Vladimir Shcherbak. Shcherbak said the purchase would be made from the Federal Food Fund, but he admitted his ministry had so far received only 1 trillion rubles of the earmarked funds from the banks. Shcherbak estimated initial purchases of at least 7.2 million tons. Deputy Prime Minister Aleksandr Zaveryukha said purchases would come mainly from domestic producers, although some Canadian grain could be bought for the Pacific and maritime regions. (7)

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