OREANDA-NEWS  On 02 March was announced, that the Government of the Russian Federation represented by the Federal Agency on Federal Property Management increased the authorized capital of Russian Agricultural Bank by RUR 45 bln. This is the first increase of RAB’s capital in 2009. Previously the authorized capital was increased by RUR 31.495 bln in August 2008. As a result RAB’s authorized capital has reached RUR 106.223 bln.

These funds will be used for extending loans to agricultural commodity producers, personal household plots owners, farmers, agricultural consumer cooperatives, for grain interventions and for establishment of land mortgage lending system.

It will enable the Bank to expand its scale of lending to agribusiness and rural population in the framework of the Federal Program on Agribusiness Development 2008-2012, to finance grain purchase and commodity interventions and to develop land mortgage system.