Russian Agricultural Bank and the Government of Chuvashia signed a cooperation agreement

18 November 2021

On November 17, Boris Listov, Chairman of the Management Board of Russian Agricultural Bank and Oleg Nikolaev, Head of the Chuvash Republic signed the Cooperation Agreement aimed at socio-economic development of the region, strengthening its economic and industrial potential.

It is planned to strengthen interaction on public-private partnership programs, credit systems, including within the framework of state programs, step up work with agricultural organizations, and create additional conditions for attracting investments to Chuvashia. The document also implies the creation of territories for advanced socio-economic development and programs for the development of infrastructure for single-industry towns.

“Russian Agricultural Bank provided RUB 95 billion for financing the economy of the Chuvash Republic, of which more than RUB 60 billion were allocated to agribusiness. RusAg issues every second loan to Chuvash farmers. We are not only helping the development of agricultural enterprises and create new jobs, but also working to improve people’s living standards, especially in rural areas, as well as to increase the investment attractiveness of the region. Today we confirm our readiness to further build up our cooperation in all areas – from supporting farms and rural tourism to the implementation of mortgage programs and large investment projects,” said Boris Listov.

“Russian Agricultural Bank is our reliable partner. More than 80% of farms in the republic either have current accounts with the bank or receive funding from it. In just 10 months of 2021, the bank provided over one billion rubles of financing to the Chuvash agricultural sector, while about 84% of these funds were issued at a preferential rate," Oleg Nikolaev.

The main part of the financing allocated to small and micro-businesses. With the assistance of the Bank, a number of large investment projects implemented in Chuvashia. RusAg is represented in all regional centers of the republic, with 24 offices operating in the region.

Every fifth investor in the region entrusts its funds to RusAg – the 2nd place in the deposit market of the Republic.

The Bank supports people’s intention to live in a comfortable environment. With the help of the rural mortgage program, the flagship of which is RusAg, 1.2 thousand families of Chuvashia have already received new housing.

With financial and organizational support of the Bank, Chuvashia was the first region to host the farm food festival ‘SVOE’ in 2021, and participated twice in the Bank’s educational project ‘Farmer’s School’. With the assistance of the Bank, the Association of the Most Beautiful Villages of Russia (together with the Federal Agency for Tourism) conducted expeditions ‘Povolzhye’, and was hosted the First gastronomic festival of the Volga Region ‘VOLGASTRO FEST’.