On August 28 within the framework of joint program “International cooperation of Russia and Austrian enterprises” of the largest banks of the South of Russia and Upper Austria – Center-invest Bank and Raiffeisenlandesbank Oberösterreich (RLB Oö, Austria) – a delegation of Austrian entrepreneurs and journalists headed by the Governor of Upper Austria, doctor Josef Puhringer, and Chairman of the Managing Board of RLB Oö, doctor Ludwig Scharinger, visited Rostov-on-Don.

Within the framework of the visit negotiations took place between Austrian businessmen and entrepreneurs-customers of Center-invest Bank. The representatives of Russia were the largest producers of agricultural production and alimentation from Rostov region and Krasnodarsky krai.

The following companies represented Austrian business: Backaldrin Österreich GmbH (supplement production for food industry), Schaller Lebensmitteltechnik GesmbH (production of equipment and technologies for food industry), Vivatis Holding AG (production of margarine, international trade of dry milk, adipose, organic fertilizer, foodstuff production and trade), Voest Alpine Intertrading AG (international marketing of metals, grain and oil-bearing crops, equipment, chemicals and pharmaceutical products).

Center-invest Bank in cooperation with RLB Oö and Voest Alpine Intertrading AG, are already offering investment loans up to 3 years with the possibility of both state and commercial subsidizing of a part of interest rate, to the producers of agricultural products in the South of Russia. The volume of joint program is EUR 5 million.

The program of cooperation of Russian and Austrian companies was presented by Center-invest Bank and RLB Oö in February of 2006 within the framework of the forum “Eastern Europe: chances in new markets” that was organised by RLB for its customers.

Within the framework of the program Center-invest Bank was granted long-term financing by regional Austrian bank to realize investment projects of its customers and implement new technologies in agrarian sector, in production of foodstuff, manufacturing industry, building and construction, energy-saving technologies and other branches:

• 2005. A line to confirm guarantees and letters of credit for the purchase of equipment and goods in Germany and Austria by Center-invest Bank customers. The total amount of the given line is EUR 3 million, the term is up to 2 years.
• June of 2006. Credit line to finance projects for construction of warehouses for the companies of the South of Russia to the amount of EUR 5 million, for the term of up to 3 years.
• July of 2006. RLB Oö took part in syndicated loan for Center-invest Bank (USD 1.8 million for the term of 18 months with a possibility to prolong it for another 18 months). Credit funds are used to finance SMEs and for consumer lending.

Within the framework of the visit, a meeting between the Governor of Rostov region Mr.Chub and Chairman of the Board of Directors of Center-invest Bank, professor Vasily V. Vysokov, doctor in economics, Governor of upper Austria Josef Puhringer and the Chairman of Managing Board of RLB doctor Ludwig Scharinger.

During the meeting bankers and governors discussed projects in the sphere of creation capacities to produce bio-diesel-fuel and bio-ethanol, livestock leasing, cooperation in the sphere of environment protection and also they discussed tourism and hotel business development.

In 2007 it is planned to hold a presentation of Rostov region in Austria, as well as probations of state employees and exchanges of students from Rostov universities and Kepler University in Linz (Austria).

Due to new technologies of international cooperation of two regional banks, new possibilities are granted both to western customers of RLB and Center-invest Bank customers.