OREANDA-NEWS. May 20, 2014. Russian Agricultural Bank (RusAg) has extended over RUB 2.4 trillion for the State Programs on Agribusiness Development and Market Regulation for Agricultural Products, Raw Materials and Foodstuffs implementation since 2008.

In the framework of the current State Program 2013-2020 the Bank allocated loans for more than RUB 660 billion.

In the Q1 2014 the Bank has extended over RUB 97 billion to its agribusiness borrowers. The major share of resources was allocated to agricultural producers – RUB 34 billion, then processing companies and food producers – RUB 12 billion, farms – RUB 4 billion, and individual household plots – RUB 10 billion.

In the course of the State Programs Russian Agricultural Bank`s has extended RUB 1.2 trillion to agribusiness SMEs, with 33% of which have been used for purchase of capital items, development of animal breeding complexes, poultry facilities, etc. The total number of RusAg`s borrowers in the SME segment exceeds 36 thousand.

According to the Ministry of Agriculture, in 2013, Russian Agricultural Bank took the lead in lending to the national agribusiness with a market share of 52%. The Bank plans to further provide sufficient financing to this sector of economy, targeting technical renovation and consistent modernization of key related industries.