Boris Listov, Chairman of the Board of Russian Agricultural Bank, and Vladislav Hovalyg, Head and Chairman of the Government of the Republic of Tuva, signed a cooperation agreement to replace the one that was operating in 2013-20.
The new agreement aims to establish a strategic partnership, develop long-term and efficient cooperation to help Tuva achieve its top-priority socio-economic goals and strengthen its economic and industrial potential.
RusAg and Tuva identified the following key areas for cooperation:
Developing a system to finance corporate and retail clients; developing banking and cash management services
Facilitating agricultural exports
Delivering days of financial literacy for the general public
Facilitating investments in Tuva.
RusAg that has had a presence in Tuva since 2002 and is servicing 100% of its rural areas has invested as much as RUB 39 billion in its economy, including RUB 23 billion in agribusiness. The bank is servicing around 60% of state-paid employees and has delivered approx. 100 investment projects for Tuva.
‘For us as the core bank for agribusiness it is important to see that the leadership of Tuva is set to develop its agriculture and food self-sufficiency. We support these intentions and will continue to develop our presence there and facilitate agribusiness growth. As we work to improve the quality of rural life we have issued RUB 400 million in rural mortgages, helping more than 200 Tuvan families move to new homes,’ said Boris Listov.
‘Tuva is an agricultural region with a huge potential that we have started to tap into little by little. Our farmers need support to launch or expand their businesses and make their organic products available to as many people as possible. In that regard it is essential that we work together given that RusAg is offering multiple mechanisms to support farmers, including in Tuva,’ said Vladislav Khovalyg.
In 2021, 25 Tuvan farmers joined RusAg’s major educational project Farmer's School to learn about technologies for processing meat/meat products and milk/dairy products.