OREANDA-NEWS. Russian Agricultural Bank’s activities in 2006 particularly those related to the National Priority Project on Agribusiness Development were assessed positively on the meeting of the Committee of the Federal Council for Agricultural and Food Policy, which was held on 24th of April 2007, reported the press-centre of  Russian Agricultural Bank. RAB was advised by the Committee to continue its activities in extending affordable credits to the agricultural producers and rural population. Yuri V. Trushin, Chairman of the Board and CEO of RAB, in his address on the session of the Committee noted that in 2007 RAB plans to increase its credit portfolio to RUR 250-300 bln. Inter alia share of farmers (peasant farmsteads) in the loan portfolio is expected to grow from 6% to 10%. Financial support of individual household plots will be also growing and number of credits should reach 200 thousands.


RAB is also increasing its products range due to the additional federal support of agribusiness, and extends loans to fishery, drove breeding of horses, ship and dear breeding, and long-term crediting of consumer cooperatives. Trushin says that due to the beginning of sowing season RAB extends more loans to enterprises involved in maintenance of agricultural equipment and machinery. As of 23rd of April 2007 RAB’s loan portfolio within the National Priority Project on Agribusiness Development was RUR88,5 bln., herein included RUR18,1 bln. extended in 2007. In 2007 within the National Priority Project on Agribusiness Development RAB extended RUR6.4 bln. for building and reconstruction of livestock farms and purchase of animals. Individual household plots were granted 52 thousands loans to the amount over RUR 7 bln. Farmers were granted 2,5 thousands loans to the amount over RUR 3,6 bln. 242 agricultural consumer cooperatives were granted loans of RUR 891 mln.