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Seasonal field work lending shows growth in Russia — ministry

As of June 20, total credit funds disbursed by key banks for seasonal field work amounted to 513.9 bln rubles, the Ministry of Agriculture said

MOSCOW, June 26. /TASS/. Seasonal field work lending in Russia ticked up by 4% year on year since the start of 2023 and reached 513.9 bln rubles ($6.1 bln) as of June 20, the Ministry of Agriculture said on Monday.

"As of June 20, total credit funds disbursed by key banks for seasonal field work amounted to 513.9 bln rubles. This is 4% above the level in the like period of the last year," the ministry informed.

Specifically, the Russian Agricultural Bank disbursed 351.5 bln rubles ($4.2 bln) and Sberbank extended 162.4 bln rubles ($1.9 bln).

Loans extended to agricultural business in the like period of the last year for such purposes amounted to 493.7 bln rubles ($5.8 bln), the ministry said.