Russian Agricultural Bank JSC (RusAg) and the Ministry of Economic Development of the Russian Federation signed an agreement on a new mechanism of state support for lending to small and medium-sized businesses.
RusAg offers small and medium-sized businesses in accordance with the new preferential loan program to receive financing from 5 million rubles ($84.5 thousand) to 1 billion rubles ($16.91 million) for a period of 5 years at rates of 10.6% and 9.6%.
The preferential lending program approved by the Russian Government Decree No. 674 is an additional mechanism to the 'Program 6.5'" and is aimed at implementing investment projects in such sectors as agribusiness, manufacturing, construction, domestic tourism, transport and communications, health and others.
RusAg pays special attention to financial support of small and medium-sized businesses, constantly creating favorable conditions for its development.The participation in this program will allow us to expand affordable lending and opportunities for small and medium-sized businesses," said Irina Zhachkina, Deputy Chairman of the Board of Russian Agricultural Bank JSC.
Information: Russian Agricultural Bank JSC (RusAg) 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.
