On March 26, the meeting of Jean Lemier, President of the European Bank for Reconstruction and Development (EBRD), with Center-invest Bank customers took place in Rostov-on-Don.

EBRD’s president highly evaluated in his speech the potential of the Southern Russian business and told the entrepreneurs and businessmen about EBRD’s strategic plans in the South of Russia, including its intention to open a representative office of the EBRD in Rostov-on-Don in 2007.

Within the framework of the meeting the Chairman of the Board of Directors of Center-invest Bank, Dr. Vasily V.Vysokov, presented “South of Russia+” strategy of the Bank, which is aimed at bringing the economy of the South of Russia to the international level. The strategy includes:

• Increasing the living standards and entrepreneurship development in the South of Russia;
• Investments into energy saving technologies;
• Implementation of modern technologies in agricultural, building and construction, industrial sectors and transport infrastructure of the South of Russia.

Funding, attracted by Center-invest Bank on the international and domestic capital markets, will be channeled to the living standards increase via consumer lending and plastic cards products development (plan for the loan portfolio in 2007 is RUR 5.4 billion), as well as via industrialization and implementation of energy efficient technologies in small business (planned loan portfolio for 2007 is RUR 18 billion), via implementation of new technologies in agricultural sector (planned loan portfolio for 2007 is RUR 6 billion). In 2007 Center-invest Bank plans to attract USD 500 million into the economy of the South of Russia.

Summing up the meeting, Mr. Jean Lemier pointed out the high level of qualification of the customers and staff of Center-invest Bank and emphasized the importance of the international projects.

The next day the President of EBRD and Dr.Vysokov visited the offices of Center-invest Bank in the South of Russia regions and met with the leaders of Southern Federal District, Rostov region and Krasnodar Krai as well as with the administration of Rostov-on-Don, Krasnodar and Sochi.

Reference:

European Bank for Reconstruction and Development is a shareholder of the Bank Center-invest since August 2004, owing 27.45% of the Bank’s equity. Apart from the financial support (TFP credit ines, SME financing credit limits, syndicated loan), it offers also technical assistant (ING for Risk management procedures and Internal auditing policy etc.) which is crucial for the sustainable development of the Bank Center-invest in the region.