OREANDA-NEWS. June 09, 2008. Year to date Russian Agricultural Bank extended 140 investment loans to the total amount of RUR 4,5 billion for construction and refurbishment of animal breeding complexes in the framework of the Federal Program on Agribusiness Development 2008-2012, reported the press-centre of Russian Agricultural Bank.

The Bank’s share in lending to Russian animal breeding sector exceeds 40%. The majority of loans for the development of animal breeding are extended with a tenor of 8 years.

In the framework of the Federal Program Russian Agricultural Bank will increase volumes of lending to agricultural consumer cooperatives. This year the total volume of the Bank’s financial support to agricultural consumer cooperatives has increased by 21,8% to RUR 1,255 billion, as compared to the relevant period of the previous year.

To ensure production distribution by agricultural commodity producers and by their cooperatives Russian Agricultural Bank has launched a lending program for development of regional and municipal wholesale and retail agricultural markets. Regional administrations have already expressed their interest in this project and willingness to provide support to the newly created cooperative agricultural commodity markets.