OREANDA-NEWS. December 17, 2009. State-controlled Vnesheconombank has become a key creditor of big Russian agricultural holding Razgulay, having lent RUB 11.2 bn to the company this year, the government and CBR said in a report delivered in the State Duma. VEB provided Razgulay with RUB 9.1 bn credit facilities for a term of up to five years and RUB 2.1 bn for up to eight years.

Based on 1H 2009 numbers, the agricultural holding’s aggregate debt reached RUB 21 bn. VEB provided cash to refinance investment costs and revamping programs. In all, the lending institution lent RUB 19.25 bn to agricultural businesses for these purposes from January through October 2009. Apart from Razgulay, VEB lent RUB 1.36 bn for 8 years to meat producer Miratorg, RUB 4.6 bn for a term of 8 years to Titan Agro, a compound feed manufacturer, and also RUB 2.1 bn to turkey producer Evrodon.