Russian Agricultural Bank Authorized Capital Reached RUR 61,223 bln
OREANDA-NEWS. On August 27, 2008 the Government of the Russian Federation represented by the Federal Agency on Federal Property Management increased the authorized capital of Russian Agricultural Bank by RUR 31.495 billion, reported the press-centre of Russian Agricultural Bank.
This is the second increase of RAB’s capital in 2008. Previously the authorized capital was increased by RUR 2 billion in April 2007. As a result RAB’s authorized capital has reached RUR 61.223 billion.
These funds will be used for extending loans to agricultural commodity producers, personal household plots owners, farmers, agricultural consumer cooperatives, for grain interventions and for establishment of land mortgage lending system.
It will enable the Bank to expand its scale of lending to agribusiness and rural population in the framework of the Federal Program on Agribusiness Development 2008-2012.
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