Over 22 years Russian Agricultural Bank has financed over 5.4 thousand agribusiness projects

Over 22 years Russian Agricultural Bank has financed over 5.4 thousand agribusiness projects

05 May 2023

For 22 years, Russian Agricultural Bank (RusAg, the Bank) has participated in the implementation of more than 5.4 thousand agribusiness investment projects. Denis Konstantinov, Deputy Chairman of the Board of the Bank, announced this at the Caucasus Investment Exhibition in Mineralnye Vody.

“More than two decades of our investments have yielded concrete results that are felt throughout Russia. Every second kilogram of pork and beef, every second liter of milk, every third egg are products of enterprises created with funds from Russian Agricultural Bank. In total, we have already supported more than 5.4 thousand agribusiness investment projects,” said Denis Konstantinov.

In addition to areas mentioned above, RusAg has a 40% share in investment projects for the production of poultry, and 59% in vegetables.

Denis Konstantinov listed the points of growth for agricultural industry. Thus, one of the most promising areas of animal husbandry is breeding, crop production – seed and nursery, food industry – meat processing, fruit and vegetable preservation, production of juices and baby food line. It is necessary to highlight separately the prospects for the development of viticulture and winemaking. At the same time, the Deputy Chairman of the Board emphasized that the Bank continues the active support of all agricultural sectors.

In 2022, RusAg allocated a record amount of funds for agribusiness development – more than RUB 1.7 trillion, while the volume of concessional financing increased by 22%. Lending for seasonal work increased by a quarter to RUB 762 billion. The Bank allocated RUB 46.4 billion for the purchase of modern machinery and equipment for farmers.

The total volume of investment projects of RusAg is more than RUB 183 billion.

In 2023, the Bank has continued active support of agribusiness. For Q1 2023, the Bank issued RUB 118.2 billion to the agricultural industry on preferential terms, which is 26.2% higher than the result for the same period last year. The total amount of loans provided to farmers remained at the level of Q1 2022 and amounted to RUB 382 billion. Thus, if in the first quarter of last year every fourth ruble was preferential, then this year it is already almost every third.

In fact, every third ruble sent to the agricultural industry goes through the Russian Agricultural Bank.