The Rosselkhoznadzor will triple the loan portfolio in the Russian Agricultural Complex

AK&M 02 June 2023 15:56

The Rosselkhoznadzor intends to support producers of the fishery complex in the construction of fish processing plants, crab fishing vessels and other elements of the infrastructure of the agricultural complex, as a result of which, by the end of 2025, the credit portfolio of the Russian Agricultural Bank in the industry will grow 3.3 times. This is stated in the bank's message.

Rosrybolovstvo estimated the additional financing needs of the fish complex for the next 3 years at 92 billion rubles. At the moment, the focus of the bank's attention is the laying of 5 crab vessels in the North–Western Federal District, 30 crab vessels and 30 other facilities in the Far Eastern Federal District, including processing plants. These 2 districts provide Russia with 83% of the catch and 87% of the processing of RHC.  In the second half of 2023, the Rosselkhoznadzor will support producers in attracting the necessary financing for the implementation of the obligations assumed during the auctions of the distribution of investment quotas.

Analysts of the Rosselkhoznadzor's Center for Industry Expertise note: the consumption of fish and fish products in the country is growing and amounts to 22.6 kg per person per year, while by 2025 it may reach 24 kg per person per year. In the export direction, the demand for Russian products remains high, despite the redistribution of sales markets. Thus, the Republic of Korea and China are still leaders in the share of imports, but new directions have appeared: Malaysia, Kuwait. To increase competitiveness in foreign markets, Russian manufacturers need a large share of products with a deep degree of processing. In total production, it increased from 2017 to 2022 by 5.8 percentage points to 31%.

In addition to active financing, the bank intends to develop umbrella services for the industry: to hold specialized festivals, implement targeted programs for the development of agrotourism in the agricultural sector, replenish the database of vacancies "I'm in Agro" with suitable offers, develop "fish" services on the B2B platform of Its Farming, FishWeb, hold strategic sessions and support events.

JSC "Rosselkhoznadzor" is the basis of the national credit and financial system for servicing the agro–industrial complex of Russia. The bank was established in 2000 and today is a key lender of the country's agro-industrial complex, is among the largest and most stable banks in the country in terms of assets and capital, as well as among the leaders of the reliability rating of the largest Russian banks.