OREANDA-NEWS. December 30, 2010. The First Deputy Prime Minister of the Russian Federation Victor A. Zubkov headed a meeting of the Supervisory Board of Russian Agricultural Bank. The Supervisory Board met to approve the Bank’s business plan, budget and funding program for 1H2011 and to discuss the Bank’s main objectives for 2011.

In 1H2011, RusAg is expected to increase its loan portfolio by 14.5%, which is above an average level forecasted for the banking sector of Russia.

The key focus of the Bank’s lending policy will be financial support of agribusiness enterprises in the framework of implementation of the State Program on Agribusiness Development for 2008-2012. RusAg will also develop special lending programs for forestry sector and fisheries, as well as for renewal of agricultural machinery and equipment.

The agenda of the meeting also included such issues as lending procedures enhancement, increasing of regional branch network efficiency, product range expansion. The members of the Supervisory Board approved the Bank’s sponsorship and charity program for 2011 as well.