Khabarovsk branch of the Agricultural Bank has lowered interest rates on loans for seasonal field work
Rural producers will be given a loan of 50 million rubles
Khabarovsk. March 1. VOSTOK-MEDIA - The Khabarovsk branch of the Agricultural Bank lowered interest rates on loans for seasonal field work. Decision to cut interest rates on loans for seasonal field work was accepted by the Board of JSC Russian Agricultural Bank.
As RIA "Vostok-Media" was reported in the bank, in accordance with this decision, the rate on loans to carry out field season will be from 7.75% to 10% depending on the term of the loan. Reduced rates dictated by the need to support the spring field work tasks to finance agricultural sector and improve financial sustainability of agricultural producers affected by drought in summer 2010.
According to the director of the Khabarovsk regional branch of Russian Agricultural Bank, Mikhail Kozlov, until the end of March this year a branch to conduct field season is planned to give loans to agricultural producers amounting to about 50 million rubles.
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