Omsk branch of Russian Agricultural Bank JSC (RusAg) began to provide financing under the new program of concessional lending. The first loan in an amount of RUB 100 million has been issued.
The bank currently ensures prompt accept of loan applications from agribusiness, drawing up registers of potential borrowers and projects approval with the Ministry of Agriculture of Russia. Generally, loan agreements executed by RusAg under the new program achieved the total amount of RUB 18.6 billion. The subsidized lending procedure launched in 2017 helps to significantly streamline the process of financing agribusiness borrowers. Now, enterprises do not need to immobilize working capital and go through a lengthy process to get a subsidy. This measure strongly enhances the efficiency of the state support of the industry.
General information: Russian Agricultural Bank JSC is the basis of the national credit financial system, specializing in banking services for agricultural sector in Russia. The bank was established in 2000 and is a key creditor of the country’s agribusiness. It ranks among the top major banks of the country in terms of assets and is one of the leaders of the Russian bank reliability rating. 100% of the voting shares of the Bank belong to the Russian Federation.
