Agroholding Krasny Vostok in Tatarstan received a ₽1 billion soft loan

Krasny Vostok, one of the largest agricultural holdings in Tatarstan, received a preferential credit from Rosselkhozbank in the amount of 1 billion rubles, according to the press service of the bank.

The company produces milk at the largest mega-farms in Eurasia and produces crop products. The holding owns about 240 thousand hectares of land on which it operates.

The company is a client of the Tatarstan branch of the bank and became a loan recipient in accordance with RF Government Decree No 375 of March 16, 2022.

Altogether Rosselkhozbank rendered financial support to the agroholding in the amount of 2.7 billion rubles.

The bank earlier signed a number of deals under the program of preferential crediting of backbone enterprises of the agro-industrial complex. In particular, loans were granted to Miratorg, Damate and AgroEco groups of companies.

In March Rosselkhozbank signed an agreement with the Ministry of Agriculture on a program of preferential crediting of backbone enterprises of the agro-industrial complex. Borrowers can be backbone enterprises and/or their subsidiaries included in the list of the Pravkomission for increasing the sustainability of the Russian economy. Under the terms of the program large enterprises can receive a loan of up to 5 billion rubles for operating activities at an annual interest rate of 10%.

The credit is given for a period not exceeding 12 months and can be directed, for example, to the purchase of mineral fertilizers, agricultural raw materials for further processing, etc.

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Author: Ekaterina IvanovaMade
in Russia/Made in Russia