OREANDA-NEWS. September 30, 2013. Dmitry Patrushev, Chairman of the Board and CEO of Russian Agricultural Bank, held a working meeting with Alexander Drozdenko, Governor of the Leningrad region.

In the framework of the meeting the parties signed a bilateral Cooperation Agreement on implementation of the State Program on Agribusiness Development and Market Regulation for Agricultural Products, Raw Materials and Foodstuffs 2013-2020.

The agreement stipulates long-term cooperation ensuring sustainable and efficient development of agricultural producers, stimulating modernization in agribusiness, increasing employment rate and living standards of the rural population. Dmitry Patrushev placed special focus on the necessity to make federal and regional subsidies timely and fully available to the Bank’s borrowers, saying that this is a key factor ensuring the financial stability of agricultural producers and efficient development of the national agribusiness.

Currently, Russian Agricultural Bank supports implementation of a few large-scale investment projects of high social and economic importance for the region.

Since 2001, the Bank has invested over RUB 62.5 billion in the development of Leningrad region. 23 large investment projects with total financing of over RUB 7 billion have been implemented in the region with the Bank’s direct participation. RusAg’s share in the seasonal field works financing in the region exceeds 95%. This year the Bank has provided over RUB 1.9 billion to agricultural producers, a 1/3 increase as compared to 2012.