OREANDA-NEWS. February 18, 2014. Russian Agricultural Bank (RusAg) extended RUB 562.9 billion for the first year of the State Program on Agribusiness Development and Market Regulation for Agricultural Products, Raw Materials and Foodstuffs 2013-2020 implementation. In total, since the inception of the State Program on Agribusiness Development in 2008, RusAg provided RUB 2.3 trillion in loans.

In the course of the State Programs the Bank provided over RUB 1.1 trillion to SMEs operating in agribusiness. More than 34% of loans to SMEs are investment loans extended for construction and purchase of fixed assets, development of breeding and poultry facilities, etc. The number of RusAg`s agribusiness borrowers in SME sector exceeds 36 thousand.

In 2014, Russian Agricultural Bank will continue financing the national agribusiness, including through the provision of investment loans aimed to boost the development and modernization of the priority agricultural subsectors alongside with a technical renewal of the industry.