For 20 years, Russian agribusiness has transformed from a lagging industry into a high-margin and investment-attractive business, whose products now not only provide the country, but already bring the country more income than the military industry for export. Throughout this time, support to agriculture was provided by a specialized financial institution - the Russian Agricultural Bank (the Omsk branch is the Omsky Biocluster member), which celebrated its anniversary in June.
An example of sugar as a product is indicative: if at the turn of the 21st century only about a third of sugar was produced from Russian beets, then from 2017 foreign raw has not been used. At the same time, the implementation of the national project to increase the export of agricultural products to $ 45 billion a year by 2024 is being successfully promoted. Compared with 2000, agricultural exports from Russia grew almost 20 times.
For almost twenty years, the profit of the agricultural business has grown from RUR 11.8 billion ($ 163.6 million) to RUR 160.3 billion ($ 2.22 billion), that is, almost 14 times. In the processing industry, a similar indicator increased from RUR 76.6 billion ($ 1.06 billion) to RUR 403.3 billion ($ 5.59 billion) - more than 5 times. Revenues in both areas showed an increase of 4.5 times.
Russian Agricultural Bank actively participated in the success story. Since 2006, RusAg has been a key participant in the Development of the Agroindustry National Project, with the assistance of the Bank about 4,200 agricultural investment projects have been commissioned. Since the start of the implementation of the State Agricultural Development Program in 2008, the Bank has allocated over RUR 8.6 trillion ($ 119.23 billion) to support the industry. RusAg clients have become significant participants in all agribusiness sub-sectors. By the beginning of 2020, the Bank's customers provided 25% of the total export volume. Since 2014, the Bank has been actively replacing funds raised in foreign financial markets with funds raised in the domestic market. The volume of customer funds attracted by the Bank since the beginning of 2014 increased from RUR 696 billion ($ 9.65 billion) to more than RUR 2.4 trillion ($ 33.27 billion).
Source: RusAg Press Service.
