02 May 2023

Russian Agricultural Bank (RusAg, the Bank) provided RUB 109 billion to small, medium and micro businesses in agriculture in 2022, increasing issuance by 7%. Alexey Senokosov, director of the Stavropol Regional Branch of RusAg, spoke about financial and non-financial measures to support farmers at the Caucasus Investment Exhibition in Mineralnye Vody.

With a total amount of loans to farmers of RUB 109 billion, RusAg allocated RUB 64 billion for seasonal work financing during the year. In 2023, the Bank continued to actively support farmers. So, for the Q1 2023, they received RUB 59.2 billion from the Bank, which is 58.1% higher than in the Q1 2022.

According to data previously presented at the AKKOR congress, farms’ production has increased more than 10 times over 15 years: from RUB 111 billion to more than RUB 1.4 trillion. The share of farmers in total volume of agricultural production has more than doubled since 2006 – up to 16.2%.

Thus, since 2020, RusAg has been implementing the Farmer’s School educational project, where newcomers and existing farmers are taught how to build and maintain profitable agribusiness on the basis of specialized agricultural universities.

The Bank continues to develop the ecosystem ‘Svoe’, aimed at helping everyone connected with the rural lifestyle. An online store ‘Svoe Fermerstvo’ offering seeds, equipment, fertilizers, etc. is most useful for farmers to build a business. The marketplace ‘Svoe Rodnoe’ – for the sales, for the organization of agricultural tours – ‘Svoe Za gorodom’.