Capital of Russian Agricultural Bank Will Be Increased by RUB 743 Mln
OREANDA-NEWS. On December 06, 2007 the Government of the Russian Federation has made decision to increase RAB’s authorized capital by RUB 743 mln, reported the press-centre of Russian Agricultural Bank.
These funds had been transferred to the Federal Budget in the framework of the recovery of old loans from agribusiness enterprises by RAB, from price interventions and sales of grain from Federal Intervention Fund in 2007.
Russian Agricultural Bank is a State agent for the recovery of old loans, extended to agribusiness enterprises from the federal budget or extra-budgetary funds. RAB also provides lending to entities state agents participating in the state grain price stabilization program.
The increase in the authorized capital will expand RAB’s opportunities for the development of agribusiness SMEs and consumer cooperatives; it will provide additional funds for commodity price interventions.
Комментарии