OREANDA-NEWS. December 13, 2010. The First Deputy Prime Minister of the Russian Federation Victor A. Zubkov headed a meeting of the Supervisory Board of Russian Agricultural Bank. The Supervisory Board met to discuss the Bank’s performance in January-September 2010, reported the press-centre of Russian Agricultural Bank. 

In 2010, in the framework of implementation of the State Program on Agribusiness Development for 2008-2012 the Bank has already extended some 97 thousand loans totaling RUB 251.9 billion to agribusiness producers, demonstrating a growth by 10.7% as compared to the previous year.

RusAg was focused on providing agribusiness producers and rural population with available credit and financial resources. During 2010, the Bank has decreased several times interest rates for its borrowers and will further decrease interest rates on loans extended for seasonal field works 2011.

The agenda of the meeting also included such issues as business-planning, including financial planning and funding program for 2011.

In 2011, the Bank is expected to increase its lending to agribusiness producers by 15-25%. RusAg’s funding program is to ensure allocation of funds intended for expanding credit support of agribusiness and the Bank’s loan portfolio growth. Increase of clients funds is expected to be one of the drivers of funding program.