On May 17-19 in Munich (Germany) the 4th International economic forum “Krasnodarsky krai days in Germany”. During this forum Center-invest bank and RaiffeisenLandesbank Oberösterreich (RLB OÖ, Upper Austria) presented project “European Union – Russia: cooperation between SMEs”.

Within the framework of the project entrepreneurs and enterprises of the South of Russia are offered mechanisms of trade and project financing of investment projects, production export and import operations and experience exchange between SMEs of the two countries by the leading regional banks of Austria and Germany.

The first step in realization of the project became the meeting of the management of the Committee for housing and communal services of Krasnodarsky krai and department for trade and economy of Munich. This meeting was organized by Center-invest Bank and RLB OÖ.

The cooperation will be continued during the forum “Kuban 2006” (Sochi city, 28.09-01.10.06) and Small business week (Rostov-on-Don, 9-11.11.06).

On May 21-22 the project of cooperation of SMEs from Russia and European Union was presented in London to the participants of a yearly meeting of EBRD. It gained a wide support by international finance organizations and leading Western banks: IFC, MIGA, EBRD, ADB, OPIC, DEG, MKB, LBBW, IKB, Wachovia Bank NA, Commerzbank, BNP Paribas, Bankgesellschaft Berlin. In the published review of EBRD operations and in accordance with the results of 2005, cooperation with Center-invest bank was noted to be the first successful investment into a regional bank, created by local scientists and professors.

On May 23 the Chairman of the Board of Directors of Center-invest bank professor Vasily V.Vysokov made a speech during the international forum “Banking on Russia 2006”, which was organized by a journal The Banker and Financial Times newspaper at London Stock Exchange. Within the framework of round table discussion “Prospective of Russian Banking Sector” professor Vysokov made a report “New industrialization of the South of Russia”.

On May 24 the head of the representative office of Center-invest Bank in London, Olga Vysokova, master of finances, made a speech for the members of Trade and Commerce Chamber of Lintz (Austria). She presented a project realized jointly with RLB.

On May 26 a member of committee for economic development and cooperation of Bundestag doctor Bärbel Kofler visited the head office of Center-invest bank in Rostov-on-Don. She got acquainted with the Bank’s progress in programs that are financed by German Corporation for Investment and Development (DEG) and KfW-bank (Germany).

Extract from the speech of professor Vasily V.Vysokov during the forum “Banking on Russia 2006”:

“Center-invest Bank experience clearly demonstrates that Russian banking sector is the most dynamic, transparent, competitive and competent sector of economy.However, possibilities of dynamic growth of banks are limited by out-of-date production facilities and infrastructure. Enterprises of the South of Russia of all economy sectors require new industrialization. For instance, the gap of energy efficiency between Russia and Canada is 5-6 times, the gap of crop capacity is 2-3 times. Center-invest bank customers, due to the investment projects, leasing, trade and project financing lower power inputs by 30% in already 1.5-2 years”.