2012.02.20 | Russian Agriculture Bank allocates 70 bln rbl to finance H1 sowing seasonState-owned Russian Agricultural Bank has reserved 70 billion rubles to finance the sowing season before July, the lender said in a statement Thursday.
The interest rate stands at 9.00–10.75% annually depending on the loan terms.
The lender’s main goal this year is to diversify loans depending on the needs of different borrowers.
According to the Agriculture Ministry’s data, 16.5 million hectares were sown with winter crops, while 50.8 million hectares are expected to be allocated for spring crops.
(29.6930 rubles – U.S. $1)
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