RusAg to invest over 2 trln rubles in agricultural industry in 2025 - dep PM Patrushev

MOSCOW. June 17 (Interfax) - Russian Agricultural Bank (RusAg) will invest more than 2 trillion rubles in Russia's agricultural industry this year, Deputy Prime Minister Dmitry Patrushev said in a message published on the RusAg website congratulating the bank on its 25th anniversary.

Patrushev said that RusAg was the agricultural industry's principal partner. "Both farmers and big agricultural companies have remained loyal to the main agricultural bank for the last 25 years. Its market share in the industry's loan portfolio has hit a record of 45.6%, meaning RusAg issues every second ruble loaned. Last year, the bank increased lending to agricultural enterprises by 20% and plans to invest over 2 trillion rubles in the industry during its anniversary year," the deputy prime minister said.

"Over 25 years, RusAg has issued 17.8 trillion rubles of loans to the industry, allowing for over 5,500 investment projects to be implemented in agriculture. But more importantly, the bank has completed a long journey of transformation from a mere financial institution to a driver of development in agriculture," Patrushev said. "RusAg's achievements include the creation of new digital solutions for business and comprehensive projects aimed at improving the quality of life in rural areas."

RusAg was established in 2000 and is owned by the state.