“ROSSELKHOZBANK” reduces credit interest rates for agrarians

“ROSSELKHOZBANK” has reduced the interest rates on the credits, obtained by agricultural enterprises for the seasonal field works, for purchases of the agricultural machines and on several other programs. The President of “ROSSELKHOZBANK” Dmitry Patrushev has announced about this decision during his last work trip to Kirov region.

Now the interest rate on the credits for the field works, given for the 90-day term, is equal to 9% of interest per annum, on the credits, given from 91 to 180 days – 10%, on the credits from 181 days to one year – 11%. Earlier such credits were given out only at the rate of 12%.

The press-service of the bank reports the interest rates on the long-term credits are reduced by 1%. In particular the interest rates on the credits, meant for acquisition of the agricultural machinery, additional financing of the investment projects for construction of the cattle-breeding centers, for house-building for the citizens, working in the country, and the credits to the agricultural consumer co-operatives are reduced to 13% of interest per annum.

The rise of the credit availability for agrarians is called to provide for stable development of the Russian agriculture and to support the agricultural organizations, having suffered from the severest drought in 2010. This regular reduction of the credit interest rates will help the agricultural complex of the country to prepare itself for holding the spring field works in 2011 and to start developing new long-term projects.