Rosselkhozbank decapitalizing 20 billion rubles

© RIA Novosti / Natalia to Seliverstova in photobacteria Rosselkhozbank on Arbat street in Moscow. Archival photoRosselkhozbank decapitalizing 20 billion rubles© RIA Novosti / Natalia to Seliverstova the image Bank

The government of the Russian Federation in 2018 decapitalize the agricultural Bank at 20 billion rubles, next year this process will be continued, said Prime Minister Dmitry Medvedev at a meeting with the Chairman of the Board of Rosselkhozbank Boris Leaf.

«In order to provide the necessary level of support required level of liquidity, so you can continue to lend to the agricultural sector, I made the decision to capitalize the Bank. This year we will provide for capitalization of 20 billion rubles next year capitalization will continue. Such decisions will be taken, I would like to implement them for the development of agriculture in our country and support of the agricultural sector, small and medium businesses, and for other purposes,» — said the head of government.

The head of the Bank expressed gratitude to Medvedev for the decision, noting that it was «huge support for the agricultural Bank and the agricultural sector». «Good news,» said the Prime Minister.

Medvedev said that Russian agricultural Bank is the leading institution for financing the agricultural sector. «In the past the Bank had problems, the so-called toxic assets, that is, the accumulated debt problem, as well as participation in various projects, for which the probability of payment is almost zero, so they must be close,» he added.

Rosselkhozbank, established in 2000, is a key creditor of the APC and the main agent of the government for the financial support of the sector. The state ownership is 100% of the shares of the Bank. The state decapitalized credit institution annually.