Krasnodar administration receives a credit in the amount of 1 billion roubles from Russian Agricultural Bank

During the working meeting Vladimir Evlanov and Director of Krasnodar Region branch of OJSC Russian Agricultural Bank Dmitry Vdovin have signed an agreement for opening of credit line for Kuban capital administration in the amount of 1 billion roubles.

— I’m happy that our cooperation has been achieved. The signing of the agreement will allow us channeling additional funds into implementation of a range of social programs including covering operational costs until the end of the year. I think it is very important that the bank states its willingness to take part in the development of Krasnodar and dealing with critical issues related to the city livelihoods. I hope that good traditions established between Russian Agricultural Bank and Krasnodar City administration will be continued in the future and our partnership will be based on principles of mutual understanding and trust, — Vladimir Evlanov said during this working meeting.

The signing ceremony took place in Krasnodar City administration. The meeting was also participated by Deputy Head of Krasnodar, Director of the department of finances Alexander Mikheev and Director of the department of economic development, investments and external affairs Elena Vasilchenko.

Dmitry Vdovin, in his turn, underlined that the bank sees big prospects in entering the market of municipalities crediting and in particular it is interested in cooperation with administration of Kuban capital.

— This is our first experience of providing credit resources for local municipalities and in the following by the example of Krasnodar we are going to disseminate the experience in other cities of the Region, — Dmitry Vdovin said.

According to Director of Krasnodar Region branch of OJSC Russian Agricultural Bank, Krasnodar branch of the bank is the biggest in the country. Its credit portfolio is over 90 billion roubles — almost 90 percent of them are invested into Kuban agriculture. And sectors of construction, trade and tourism, along with agricultural complex, start playing an increasing role in the field of interests of the bank.  

— These sectors take leading positions in the structure of Krasnodar’s economy and are the most attractive for investments ones. I believe that our today’s meeting is the start of big common work, — Vladimir Evlanov said.

Upon completion of working meeting Vladimir Evlanov and Dmitry Vdovin signed an agreement for Krasnodar administration to receive a credit in the amount of 1 billion roubles. Funds will be transferred in several tranches and allocated to finance municipal social projects and cover other operational costs.

As it was commented in Krasnodar City administration department of economic development, investments and external affairs, credit organization to provide 1 billion roubles credit for Kuban capital administration has been determined following the results of online auction. Russian Agricultural Bank won the auction for the first time ever. Credit resources will be provided at the rate of 12 percent p.a.

Russian Agricultural Bank has been created in 2000 on the initiative of the Russian Federation government approved by the RF President. It is the second bank of Russia in the number of opened branches — now 78 branches and over 1,5 thousand offices operate within regions of the country including 47 additional and operational offices of RAB that are opened almost in all cities and district centers of Krasnodar Region.

Also the bank has representative offices in Azerbaijan, Belarus, Kazakhstan, Tajikistan and Armenia. Total number of the organization employees is over 33 thousand people.