VTB is financing the construction of a dairy farm in the Arkhangelsk region for 2.4 billion rubles

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AK&M 18 April 2024 13:41

VTB issued a loan for 2.4 billion rubles. JSC Agrofirma Velskaya for the construction of a new dairy farm in the Arkhangelsk region. The financing was provided for 15 years within the framework of the preferential lending program of the Ministry of Agriculture of the Russian Federation. This is stated in the bank's message.

The construction of a dairy farm for 2 thousand feed cows with the cultivation of young animals is underway in the Velsky district of the Arkhangelsk region. The company will produce 25 thousand tons of raw milk per year and create new jobs. The entire complex of works is planned to be completed by the end of 2025.

VTB Group is a Russian financial group comprising more than 20 credit and financial companies operating in all major segments of the financial market. In the CIS countries, the group is represented in Armenia, Ukraine, Belarus, Kazakhstan, and Azerbaijan. VTB banks in Austria, Germany and France operate within the framework of a European sub-holding headed by VTB Bank (Austria). In addition, the group has subsidiaries and associated banks in the UK, Cyprus, Serbia, Georgia and Angola, as well as one branch of VTB Bank in China and India, two branches of VTB Capital Plc in Singapore and Dubai.