OREANDA-NEWS. November 06, 2014. The Bank of Russia registered a report on the issue of preferred shares of Russian Agricultural Bank (RusAg) in the amount of RUB 25 billion. As a result of the issue RusAg’s share capital amounted to RUB 243.048 billion.

The funds allocated to RusAg’s share capital will be directed for lending to agribusiness enterprises, farms, household plot owners, and agricultural consumer cooperatives.

On July 21, 2014, President of the Russian Federation Vladimir Putin signed amendments to the Federal Law “On additional measures to support the financial system of the Russian Federation”, stipulating the distribution of the funds to the share capital of Russian Agricultural Bank. On August 28, 2014, the Federal Agency for State Property Management, which exercises the powers of the Bank’s general shareholders meeting, took the decision on the increase of the Bank’s share capital.