Soft Loans for Seasonal Work Increased by 15% in Russian Agricultural Bank

In 2019, the Agricultural Bank of Russia (Rosselkhozbank) allocated more than 138 billion rubles for seasonal work, which is 15% more compared to 2018; the loan rate does not exceed 5% per annum. The Bank issued 87.8 billion rubles to small and medium-sized enterprises for seasonal work against 66.7 billion rubles a year earlier. The bank’s funds were used by more than 3.4 thousand agrarians. 

According to Irina Zhachkina, the Rosselkhozbank official, providing help to agrarians in harvesting the first-class crop is one of the main tasks of the Agricultural Bank. The Bank offers loans with simplified conditions for farmers, with reduced time for making a decision on issuance.

As Lev Yaneev, Director of the Omsk branch of Russian Agricultural Bank, states,
in 2019, the growth in issuance amounted to over 30%, compared to the same period of 2018; at the same time, preferential lending still occupies a large share in the structure of branch issuance.

Rosselkhozbank soft loans fully provide farmers with funds for sowing and harvesting campaigns, such as the purchase of seeds, plant protection products, fertilizers, fuel, spare parts for repair of machinery and equipment, trucks and tractors, and others.

Ru-Main, 09.02.2020

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