State Program on Agribusiness Development

State Program on Agribusiness Development

Russian Agricultural Bank is a key financial institution in the realization of federal programs on agribusiness development.

In 2012, according to the Russian Government Resolution No. 717 dated July 14, 2012, the State Program on Agribusiness Development and Regulation of Farm Produce, Raw Materials and Foodstuffs Markets for 2013-2020 (State Program) was approved.

In February 2019 an updated version of State Program came into force. It was prolonged till 2025 and includes the following:    

  • Federal project “Export of agricultural products” (stipulates growth of exports of agricultural products to the amount of USD 45 billion) by 2024;
  • Federal project “Development of the system for support of farmers and expansion of rural cooperation” (aimed at growth of small and medium sized enterprises in agribusiness);
  • Departmental project “Digital Agriculture”.

The State Program on Agribusiness Development 2013-2025 (State Program) expands the scope and substitutes the State Program on Agribusiness Development 2008-2012 and the National Priority Project on Agribusiness Development 2006-2007.

Agribusiness development remains a priority in the Government’s social and economic policy.

The core goals of the State Program  are as follows:    

  • Ensuring the food independence of Russia with account of economic and territorial accessibility of agribusiness foodstuffs
  • Growth of value added of agribusiness output
  • Growth of agribusiness exports
  • Increase in investments in fixed assets employed in agriculture
  • Growth of disposable resources of households in rural areas.

Russian Agricultural Bank’s strategy is consistent with the State Program, which provides measures for the integrated development of agribusiness and related sectors.

In 2008-2012, Russian Agricultural Bank extended over RUB 1.7 trillion to implement the State Program on Agribusiness Development 2008-2012.

Starting 2013 and as of 1 January 2020, RusAg has extended circa 3.4 million loans for the total amount of RUB 6.3 trillion, including:

  • Seasonal works – RUB 1.8 trillion;
  • Farms – RUB 103 billion;
  • Personal household plots – RUB 81 billion.