AO UniCredit Bank and the Ministry of Agriculture of the Russian Federation signed an agreement on cooperation in the framework of the preferential lending program of enterprises of agroindustrial complex. The Bank is among the authorized credit organizations, which will provide loans to agricultural enterprises at a preferential interest rate of not more than 5% per annum.
The program was elaborated to improve the efficiency of the state support of agroindustrial complex and should simplify the companies' access to finance on preferential terms. Loans at a rate of 1% to 5% per annum could be provided to legal entities and individual entrepreneurs engaged in the production, primary and / or further processing of agricultural products, as well as its sale. The loan term can be up to one year or longer in case of attracting investments for the development of crop production, livestock husbandry, and processing of agricultural products. According to the program the Ministry of Agriculture will compensate to banks the shortfall of their income on loans issued at a concessional rate in the amount of the key rate of the Central Bank of the Russian Federation.
"Preferential lending programs are very popular among our customers. We have financed stable and dynamically developing enterprises of AIC for several years in the key agricultural regions of our country also through participation in the state subsidized lending programs. The new program involves not only loans at attractive rates but also more convenient for companies order of obtaining finance. I am confident that the program will allow us to further develop lending of solid agricultural enterprises which will have a positive impact on the development of the agro-industrial complex in our country," said Kirill Zhukov-Emelyanov, Member of the Management Board, Head of Corporate & Investment Business of UniCredit Bank.