19 April 2023

During Q1 2023, Russian Agricultural Bank (RusAg, the Bank) issued RUB 118.2 billion to the agricultural sector on preferential terms, which is 26.2% higher than the result for the same period last year. General volume of loans provided to farmers remained at the level of 2022 and amounted to RUB 382 billion. Thus, if in the Q1 of last year every fourth ruble was issued on preferential terms, then this year it is already almost every third.

Large businesses received RUB 307.7 billion from RusAg; medium, small and micro businesses – RUB 59.2 billion; individuals – RUB 15.1 billion. The largest growth noted in medium, small and micro businesses: +58.1%. A significant part of the credit sources was provided on preferential terms under the state programs. The main measures of state support for SMEs are implemented within the framework of the national project “Small and medium-sized businesses and support of individual entrepreneurial initiatives”.

“RusAg is consistently increasing the share of funds issued to farmers on the most favorable terms for them. This allows agribusiness to develop more intensively and implement projects in the interests of the country’s population and its economy. I would like to note that we pay particularly close attention to small farms, it is their support that has grown the most. The Bank always was and remains a reliable financial support for the growth and stable creative work of the domestic agribusiness,” emphasized Irina Zhachkina, the First Deputy Chairman of the Management Board of RusAg.

During the reporting period, RusAg issued RUB 193 billion for seasonal work, which is 17.2% over the result of Q1 2022. Concessional lending for seasonal work increased by 9.7% to RUB 84.8 billion.

In Russia as a whole, the share of RusAg in lending to seasonal work is ca. 70%. In 17 regions the Bank’s share in lending to seasonal work exceeds 90%. At the same time, in a number of regions, RusAg is the only bank that has allocated funds for this activity.

The Bank has also continued active financing of export-oriented agricultural enterprises. The amount of loans issued totaled RUB 128.7 billion, and the number of clients supported was more than 1,600.