OREANDA-NEWS. October 13, 2011. Russian Agricultural Bank (RusAg) signed Cooperation Agreements on implementation of the State program on agribusiness development and market regulation for agricultural products, raw materials and foodstuffs 2008-2012 with Governments of the Republic of Karelia and the Republic of Khakassia. RusAg intends to expand its lending to agricultural producers of the Republics under the State program on agribusiness development 2008 — 2012, reported the press-centre of RusAg.

In the framework of agreements the Parties will ensure credit availability for the development of agribusiness enterprises, personal household plots and farms, sustainable rural development, increase in employment and living standards of two Republics, as well as stimulating the creation of a regional system of mutual financial assistance — agricultural credit consumer cooperatives.

RusAg will extend investment loans for the implementation of regional lending programs on the development of priority agribusiness subsectors, for technical and technological modernization, and will provide further increase in agricultural outputs. The Bank also aims to develop the regional infrastructure through the introduction of ATMs, payment terminals and payment cards system for the approximation of banking services to agricultural producers.

Moreover, Russian Agricultural Bank intends to extend credit support of various forms of activity in rural areas, not related directly to production and processing of agricultural goods: rural tourism and trade, folk arts and crafts, social and cultural services for the rural population, etc.