Banque Foncière Pour Faciliter aux Paysans l’Acquisition de Terres
Крестьянский Поземельный Банкъ
Formed by the Government in 1882 to aid peasants in the acquisition of land.
The bank was founded in 1882 by Czar Alexander II to provide cheap loans to the Russian peasantry for the purchase of land and to fund the improvement of agricultural methods. It began operations in April 1883, with nine branches. Each branch was managed by a council consisting of a manager, assistant manager, three others appointed by the Ministry of Finance and another member representing the Ministry of Agriculture. In 1888 its activity was extended to include the Kingdom of Poland and by 1891 it had 39 branches. Farmers from all over Russia (often previously serfs) could purchase land from the land aristocracy. Between 1883 and 1904 they bought about 19,5 million acres from their former masters.