OREANDA-NEWS. October 12, 2009. Chairman of the Board and CEO of Russian Agricultural Bank Yuri V. Trushin took part in the meeting on seasonal farm works, harvesting and grain market headed by the President of the Russian Federation Dmitry A. Medvedev, reported the press-centre of RusAg.

This year only RusAg, the all-purpose financial institution and a backbone for the sustainable development of agribusiness lending, has already extended RUR 40 billion for harvesting. And since September 2008, the Bank allocated RUR 100 totally for purposes of harvest 2009.

Today the Bank is ready to participate in state grain market interventions, crediting the procurement of this year harvest conducted by the United Grain Company that benefits from the state.

Amid the adverse economic circumstances, RusAg took all necessary measures to maintain routine funding of agribusiness sector development. The Bank management decided to increase the loan portfolio in 2009 to RUR 650 billion. The target for 2010 is 30 percent loan portfolio growth to RUR 850 billion. This is another step to strengthen food safety of the country.