OREANDA-NEWS. January 13, 2012. Russian Agricultural Bank (RusAg) signed Cooperation Agreement on implementation of the State program on agribusiness development and market regulation for agricultural products, raw materials and foodstuffs 2008-2012 with Government of Novosibirsk region. The Bank intends to enhance the availability of its credit products and expand its lending to agricultural producers of the region, reported the press-centre of RusAg.

RusAg`s Novosibirsk regional branch has been operating in the market since 2001 and currently its portfolio of loans extended to agribusiness amounts to RUB 13.4 billion.
In the framework of Agreement the Bank will further expand its local operations. One of the main targets is to boost financing of important investment projects and support the modernization of agricultural industry of Novosibirsk region in general.

To provide a better availability of its products for agricultural producers, RusAg plans to launch an Internet-based service of distant payments. Such measures are to contribute to a technological modernization of the industry which will result in an increase in agricultural outputs.

The Bank also 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.