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Russian Agricultural Bank gives 5 billion rubles for seasonal work in Penza region

14:03 | 13.09.2016 | Economy


Penza, 13 September 2016. PenzaNews. Russian Agricultural Bank forwarded up to 5 billion rubles for seasonal work in the Penza region since the beginning of 2016.

Russian Agricultural Bank gives 5 billion rubles for seasonal work in Penza region

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As the press service of the financial institution told PenzaNews, the total volume of loans in this area increased by more than 1.4 billion rubles, or 40.2% compared to the same period last year.

“Currently the Penza branch of RusAg is financing harvesting campaign in the region. Crediting programs allow fully provide material and technical base for seasonal work, buy seeds, plant protection products, fertilizers, fuels and lubricants, as well as materials for the repair of machinery and equipment, food, young farm animals and to solve other current problems,” the press service explained.

According to the director of the Penza branch of RusAg Sergei Kochergin, despite the fact that a large portion of the main crop has been harvested, there is still a lot of work.

“The bank fully meets the loan needs of farmers. We look forward to the continuation of effective cooperation with agricultural producers of the region during the completion of seasonal work,” he said.

Russian Agricultural Bank is the foundation of the Russian national credit and financial service system for the national agrarian business.

The bank, founded in 2000, is currently the key creditor in the Russian agricultural field. It is one of the largest and most stable Russian banks in regards to volume of active assets and capital stock, and among the leaders of reliability rating for the largest national banks.

The bank shares are 100% owned by the state.

General Banking License No. 3349, issued by the Bank of Russia on 12 August 2015.

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