OREANDA-NEWS. July 18, 2011. In 2011, Russian Agricultural Bank extended over RUB 92 billion for the spring sowing campaign, in comparison with H1 2010 amount of lending grew by 22%. Growth was due to the significant improvement of the organization of the lending process, reported the press-centre of RusAg.

Totally in H1 2011, the Bank received over 11 thousand loan applications for seasonal field works and more than 90% of them were approved.

The most commonly encountered by borrowers, as well as in previous years, are complex loans for the purchase of fuel and lubricants, seeds, fertilizers and spare parts for agricultural machinery. They accounted for about 54% of total lending for spring field works. Share of loans extended to livestock breeding complexes for the purchase of feedstuff, veterinary preparations and other increased to 14% (for the same period of 2010 — 10%), loans for the purchase of grain totaled 13%.