On 21-24 June, 2003 delegation of European Bank of Reconstruction and Development directors board visited Rostov region. Members of dele-gation could look through activity of some Rostov region enterprises dur-ing the visit. Delegates of European Bank made a partnership visit to Cen-ter-invest bank. There they could look through unique banking technolo-gies that are in use in the South of Russia, promotion of Small and Me-dium Don Enterprises investment projects and also launching of trade fi-nancial EBRD lines(policies) for Center-invest bank.
Nowadays the South of Russia has poor representation in EBRD' s stock of orders (0, 4%), though there are living almost 15 % of population and 10 % of internal gross product are produced. Only Rostov region quota of Russian Federation population and gross product comes (amounts) to 3 %.
During visit to Rostov region EBRD directors were introduced to pro-poses for projects of Don enterprises:
- Construction of hydroelectric development
- Construction of dry-cargo ships and reconstruction of cargo port in Ust-Donezk (Azov-Don shipping company)
- Construction of oil-conversion factory ("Aston" corporation)
- EBRD and Center-invest Bank capital sharing
These meetings showed that besides financing of large projects and micro crediting programs there is a demand for USD1-5mln invest credits for small and medium enterprises.
In this case question of financing such projects by EBRD becomes actual. This financing should be made passing through Russian regional banks which shares capital with EBRD.
The Chief of delegation mr. Hoakin de la Infiesta had a reason to underline that special attention will be granted to develop of Russian regions financial sector. That will allow to reduce risks to attract foreign investitions into regions and create conditions for international cooperation between small and medium enterprises both in Russia and in countries members of EBRD.
Last year Center-invest bank by practice ran in technology of getting funds from international financial institutions including EBRD. In 2002 EBRD confirmed Center-invest Bank as bank-participator in TFP - program of trade financing of export-import operations. In framework of that pro-gram were concluded Credit agreement and Trade Financing Guarantee Agreement between EBRD and Center-invest bank for the total amount of USD 5 mln.
For the passed period received funds were directed to carry out for-eign trades of such enterprises as: SoyuzAgroDon, Youg-Zerno, Donhleb-product, Kuban-ris, Novocherkassk HEPP, Novocherkassk electrod plant.
Visit of delegation of European Bank of Reconstruction and Devel-opment directors board became one more step closer to creating favorable circumstances for advancement South Russian investition projects.
Received experience of work with international financial organiza-tions, work according international standards for financial report, qualifi-cated staff and experience of launching small and medium enterprises' projects - all of these points allow Center-invest Bank to start prepare and promotion into EBRD of invest projects of Don and Kuban enterprises cam-paign at closer time.
These meetings with European Bank of Reconstruction and Devel-opment directors allow heads of region and don-businessmen to be con-vinced that access for EBRD funds is real and open.