OREANDA-NEWS. March 18, 2011. In February 2011, Russian Agricultural Bank extended RUB 12.8 billion for seasonal field works, in comparison with February 2010 amount of lending grew by RUB 1.5 billion or 13%. Totally, since the beginning of 2011, the Bank has extended RUB 17.9 billion for these purposes, reported the press-centre of Russian Agricultural Bank.

Among priority objectives of the Bank’s lending policy for the current period are to support agribusiness enterprises during spring field works, and to create favorable financial conditions for small and medium-sized enterprises.

The Bank continues a planned reduce of the financial burden on agricultural producers consistently decreasing lending rates and significantly simplified the conditions for granting loans, eliminated a number of restrictions on pledge and expanded the list of loan recipients.

To date, interest rate on loans extended for seasonal field works account for 7.75% to 10% depending on the loan maturity.