OREANDA-NEWS. June 30, 2008. Chairman of the Board and CEO of Russian Agricultural Bank Yuri V. Trushin participated in the field session of the Presidium of the Board of the Russian Chamber of Commerce and Industry held in Krasnodar Territory to discuss the issues of regional Chambers’ of Commerce and Industry involvement in agribusiness development in Russia, reported the press-centre of RAB.

During the session Yuri V. Trushin reported that the decision of the Russian Government to increase the authorized capital of the Russian Agricultural Bank by RUR 31,5 billion would allow to mobilize and expand the Bank’s financial resources and thus increase its loan portfolio by RUR 300-400 billion.

The Bank’s potential is supported by the strong business results. As of June, 2008, RAB’s loan portfolio amounted to RUR 346 billion – this is 18% growth, as compared to the beginning of the year.

In the framework of the Federal Program on Agribusiness Development 2008-2012 Russian Agricultural Bank has extended 64,4 thousand loans totaling RUR 62 billion.

Mortgage lending secured by land remains one of the main instruments of long-term investments in agribusiness. In the opinion of Russian Agricultural Bank regional Chambers of Commerce and Industry can assist in promoting this type of lending.