On May 28 the Target Capital Fund “Education and Science of the South of Russia” started to work. Initiator and one of the constitutors of the fund is Center-invest Bank. Funds of the fund will be channeled for financial support of students and post-graduates, incentive fees for the best teachers and young scientists of the South of Russia as well as to compensate expenses for participation in conferences.

Center-invest Bank initiative was approved by the key shareholders of the Bank and among them by European Bank for Reconstruction and Development (EBRD), German Investments and Development Corporation (DEG), investment fund Firebird and “Renaissance Capital-Finance” Ltd.

Target capital is formed by the funds of the constitutors, private donations and public takings.

Center-invest Bank has already directed its first fee to Federal Center for Cataloging amounting to RUR 30 million. Other RUR 4.5 million were given to the Fund by individuals.

As federal laws “On noncommercial organizations” and “On the order of formation and use of noncommercial organizations target capital” came into effect, Russian business received a legal base to realize charity projects.

The main advantages of the Fund “Education in the South of Russia” are long-term program for education support, multiplicative effect and the use of the best world practice to support education in the South of Russia.

The Fund is governed by Tutorial Council, which includes representatives of the Target Capital Fund, income recipients, contributors, honoured citizens and an Executive Director.

Center-invest Bank has great experience in realization of social and education programs in the South of Russia:

• Annually the Bank grants name scholarships to 150 excellent students of five Rostov universities – SFU, RSEU, RSMU, DSTU, RSCU and NCAPS amounting to RUR 10 000.
• Center-invest Bank jointly with Rostov regional local lore museum realizes an educational project due to which over 24 000 pupils of Rostov-on-Don and Rostov region were able to visit “Treasures of Don Steppes” exhibition for free.
• During 3 years the Bank has been awarding the winners of a regional competition “Teacher of the year of Don region”. Center-invest Bank instituted a special nomination for the competition finalists – “For the best methodological work up”.
• Over 40 thousand students of the best Rostov higher educational establishments - SFU, RSEU, RSMU, DSTU and RSCU – receive their scholarships via Cirrus/Maestro international plastic cards of Center-invest Bank.

Center-invest Bank has always respected and supported the labour of those, who do their job constructively, who implement new educational technologies, develop author’s programs striving for making the process of education more interesting and efficient. And students and post-graduates of today will become tomorrow the main unit in economic and social development of the South of Russia and realization of “South of Russia+” strategy.