RusAg Signed Cooperation Agreement with Chelyabinsk Region
OREANDA-NEWS. February 10, 2012. Russian Agricultural Bank (RusAg) and the Government of Chelyabinsk Region signed Cooperation Agreement on Implementation of the State program on agribusiness development and market regulation for agricultural products, raw materials and foodstuffs 2008-2012, reported the press-centre of RusAg.
The agreement is aimed at promoting sustainable development of the Region, creating favorable conditions for the agribusiness development, achievement of the financial stability and modernization of farms and households by increasing the availability of credit resources, development of a land mortgage system and agricultural credit consumer cooperatives in the Region.
In the course of Agreement implementation the Bank will increase an amount of lending to the agribusiness sector of the Chelyabinsk Region. RusAg will extend investment loans for the implementation of regional lending programs and for technical and technological modernization of priority agribusiness subsectors.
Russian Agricultural Bank also intends to develop the infrastructure of Chelyabinsk Region, introducing ATMs, POS terminals, payment cards system in order to bring banking services directly to agricultural producers. Also, the Bank will expand and improve the range of loan products that provide credit support to the various forms of activity in rural areas, not related directly to production and processing of agricultural goods: trade, folk arts and crafts.
The Government of the Chelyabinsk Region, in turn, will provide funding for the State Program implementation from the regional budget and ensure the establishment of security arrangements — guarantee and collateral (property) funds.