OREANDA-NEWS. May 27, 2013. Russian Agricultural Bank (RusAg) has held a regular Supervisory Board meeting devoted to the accomplishment of the Bank`s business plan in 2012.

In the opinion of the Supervisory Board, RusAg has entirely fulfilled targets of effective financial support of the national agribusiness set by the Government in the framework of the State Program on Agribusiness Development 2008-2012.

In 2012, the Bank increased its loan portfolio by RUB 151 billion (16%) up to RUB 1,105 trillion. Amount of loans extended to agribusiness grew by RUB 82 billion and exceeded RUB 800 billion which makes 73% of the Bank`s total loan portfolio.

RusAg has extended RUB 385 billion to agricultural producers in 2012. The Bank has also increased long-term lending in the framework of the State Program by RUB 14 billion and lending to personal household plots by RUB 6 billion.

RusAg is engaged in more than 4200 investment projects in agribusiness. Around 3000 of these projects have already been put into operation, including 363 projects in 2012.

In 2013, RusAg plans to further increase financing of the national agribusiness. Investment loans will be among the priority directions of the Bank`s activities to promote development of the key agricultural subsectors and technological modernization of the industry.