UrBC, Yekaterinburg, August 27, 2018. The Ural Bank for Reconstruction & Development (UBRD) and Nizhniy Novgorod Region’s Agriculture Ministry reached an agreement on preferential-terms lending for local agricultural businesses and farms. This means the UBRD is now among the authorized banks that joined the preferential-terms lending program (with backup/compensation from Nizhniy Novgorod Region’s budget funds), the bank’s press service reports.

The bank’s Nizhniy Novgorod branch has already signed a 150-million-ruble lending agreement with Linda Group. The loan has been issued for a twelve-month period and is meant to finance the company’s operating performance and as well as its eventual expansion; some of the money will also be used to buy medications and feeding stuffs for the animals.

‘We look into every bank carefully when considering such an agreement. What matters to us is that our agricultural enterprises do business with reliable partners. A wider list of authorized banks to choose from gives our farmers an opportunity to pick the best offers, which in the long run will improve their overall financial situation,’ says Nizhniy Novgorod Region’s acting Minster for Agriculture & Food Resources Alexei Morozov.