During the first six months of 2018, the Omsk branch of Russian Agricultural Bank JSC (member of Omsky Biocluster) financed seasonal field work for more than 1.6b RUR ($ 25.24m).
Most of the loans were received by farmers within the concessional financing program with a subsidized rate of 5% per annum. Compared to the same period last year, growth in this category of loans was 90%. Omsk branch of RusAg in the first half of the year also provided customers with investment loans for equipment, construction and replenishment of working capital. From January to July, the Omsk branch issued about 1.5b RUR ($ 23.66m) for these purposes.
Financial support of RusAg allows agricultural producers to fully provide the material and technical base for carrying out seasonal works, purchase seeds, plant protection products, mineral fertilizers, and develop their business by purchasing new high-performance specialized equipment. "The support of the agricultural sector, including the financing of seasonal field work and the issuance of investment loans - is one of the priority activities of our branch.We are always ready to provide farmers with leverage without delay," the director of the Omsk branch Lev Yaneev said.
