OREANDA-NEWS. On May 05, 2009 Chairman of the Management Board and CEO of Russian Agricultural Bank Yuri V. Trushin and President of the Karachayevo-Cherkessian Republic Boris S. Ebseev signed Cooperation Agreement on Implementation of the Federal Program on Agribusiness Development 2008-2012, reported the press-centre of Russian Agricultural Bank.

In the course of the Agreement implementation RAB will provide RUR 2 billion of agribusiness lending to the Karachayevo-Cherkessian Republic annually during the period of 2009-2012.

Cooperation Agreement implementation will foster sustainable development of rural areas and provide for favorable conditions for agribusiness growth. In the framework of the Agreement the Parties will ensure availability of investment lending in the rural areas, development of the agricultural consumer cooperatives, land mortgage system and rural infrastructure in the Karachayevo-Cherkessian Republic.