VTB Bank in Nizhny Novgorod opened five credit lines totaling 1 billion 140 million rubles to AFG National Group for a period of 3 to 5 years. Borrowed funds will be directed to the ongoing activities of the enterprises of the group of companies and to the implementation of their investment projects.
Commenting on the deal, Igor Rozhkovsky, head of the VTB corporate branch in Nizhny Novgorod, noted: “The Nizhny Novgorod region has serious agricultural potential. Today, in our region, programs are being implemented in this industry aimed at improving the efficiency of agricultural production and providing Nizhny Novgorod with local high-quality products, including the project of our client - AFG National. For VTB Bank, support for such projects is one of the business priorities. We hope that with our participation, the agricultural industry of the region will reach a new level of development. ”
Alexander Efremtsev, Deputy General Director of AFG National Group, noted the importance of timely credit support for the development of agricultural production: “Over the past three years, AFG National agro-industrial holding has invested more than 3 billion rubles in high-tech vegetable growing in the Nizhny Novgorod Region. This allowed us to become the largest producer of carrots and high-quality potatoes in the region, as well as create more than 300 skilled jobs. The holding’s reputation as a responsible, reliable partner contributes to the timely attraction of credit resources and ensures high rates of development of the company, which in turn has a positive effect on the socio-economic well-being of residents in all areas of our business. ”
A source: http://www.vgoroden.ru