The agreement is aimed at expansion of cooperation between the parties in the framework of the existing support measures for agriculture and developing new measures to significantly increase exports of agricultural products and processing industry. Among other things it provides for cooperation concerning implementation of modern banking technologies and the banking infrastructure for rural enterprises, the implementation of investment programmes and projects with using mechanisms of state-private partnership development support measures and the financing of small farms, export-oriented and infrastructure projects, attraction of private Russian and foreign investments in agriculture.

"In 2019 the Ministry of agriculture plans to ensure the flow of funds in agriculture in the form of Bank financing in the amount of 200 billion rubles, and the same short-term investment loans from authorised banks. Thus for the current year the Ministry set a limit of subsidies on preferential investment loans in the amount of 5 billion rubles, and in the short 12 billion rubles. Currently, the Agency has already approved some 80% of applications from the statutory limit on these types of lending," – said Dmitry Patrushev, stressing that joint efforts of the Ministry, Gazprombank will bring a new level of the development of modern banking and digital technologies for the agricultural sector and rural areas, and will also help in the implementation of major investment projects.

"Gazprombank is actively involved in financing agro-industrial enterprises and agriculture, including with use of mechanisms of state support. The Bank was one of the first joined Program of concessional lending and will continue in cooperation with the Ministry of agriculture to continue to provide comprehensive support to agriculture and increase the availability of financing to industry enterprises", – said the Chairman of the Board of Gazprombank Andrey Akimov.

The Bank is among the leaders in lending to Russian farmers. For the period of the program, he made over 600 loan agreements totaling 350 billion rubles. Currently the total loan portfolio of agribusiness and food industry in Gazprombank is more than 220 billion rubles.

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