OREANDA-NEWS. On November 28, 2008 Chairman of the Board and CEO of Russian Agricultural Bank Yuri V. Trushin and Governor of the Kursk Region Alexander N. Mikhailov signed Cooperation Agreement for implementation of the Federal Program on Agribusiness Development 2008-2012, reported the press-centre of Russian Agricultural Bank.

Under the Agreement Russian Agricultural Bank and the Kursk Region administration will work to expand the availability of financial resources for animal breeding enterprises, SME’s and residential construction in the rural areas.

As specified in the Agreement, RAB and the Kursk Region administration are intended to jointly assist cooperatives development, growth of agribusiness production capacities and land mortgage lending system building up in the region.

Implementation of the Federal Program on Agribusiness Development 2008-2012 in the Kursk Region will allow to grow up agribusiness production index by 25% as compared to 2007. Plant production volume index will grow by 26%, animal breeding production – by 25%.