OREANDA-NEWS. November 11, 2011. The total volume of loans extended by Russian Agricultural Bank (RusAg) to agribusiness producers for seasonal field works exceeded RUB 130 billion for the year to date. It makes a 28.7% growth against the same period of 2010, reported the press-centre of RusAg.

The Bank has considered more than 14 thousand loan requests by November 2011 for the total amount of RUB 130.4 billion. RUB 92.6 billion of them fell on the first half-year.

In 2011 RusAg took various measures to increase the availability of its loans. Namely, the Bank has extended a practice of issuing loans against the pledge of harvests. Due to this program, agribusiness producers got the opportunity to provide third party`s future harvest as a pledge to receive a loan if the guarantee`s creditability is acceptable for the Bank. The extension of this program secured RUB 4.7 billion loaned against the pledge of harvests which is 3 times more than in 2010.

According to initial assessments the total volume of loans for seasonal field works may exceed RUB 140 billion in 2011.