Big development loans for Russian fishery industry

Russia's agricultural bank Rosselkhozbank will soon sign an agreement with the nation's Federal Fisheries Agency, according to which in the coming year 2008 the bank will give 50 billion RUR as loans for the development of the Russian fishery industry, the bank's Chairman of Board Yuri Trushin told RIA Novosti.

Under the agreement Rosselkhozbank will start giving loans to companies engaged in various spheres of the fishery industry: fishing, processing and aquaculture.

According to Trushin, the bank is interested in cooperation with the Federal Fisheries Agency so that it would recommend reliable borrowers from a great number of fishery firms. In other words, the bank hopes to use the agency as a guide, Trushin commented.

Fish Exchange project

Along with the above, Rosselkhozbank will probably participate in establishing Fish Exchange initiated by the agency's leader Andrey Krainy. According to Trushin, there are several cities where the Fish Exchange will be located. They are Murmansk, Kaliningrad, Vladivostok, Kamchatka and Sakhalin.

In the Fish Exchange project Rosselkhozbank is going to participate with its information network, loans and bank services to the exchange.