On 16-17 May the annual meeting of the European Bank for Reconstruction and Development (EBRD) was held in London. At this event, Chairman of the Board of Center-Invest Bank, Dr Vasily Vysokov, presented the programme «Southern Russia Against the Global Crisis» and spoke about the introduction of energy efficiency technologies in southern Russia.

Center-Invest Bank, as one of the EBRD’s most successful partners, had the honour of representing the Russian Federation at the EBRD Annual Meeting. Center-Invest’s new achievements are related to its implementation of the programme «Southern Russia Against the Global Crisis». This programme for the construction of the post-crisis economy of southern Russia has received the support of the bank’s customers and recognition by its international partners.

Speaking at the EBRD Annual Meeting, Chairman of the Board of Center-Invest Bank, Dr Vasily Vysokov, said:

«The crisis will be over as soon as you have developed a programme for your own post-crisis development. Those companies that can reduce their costs by at least 30% are the ones which will survive in the post-crisis economy. It is precisely for these companies, which know their own business, their markets, and their advantages in these markets, and which have a post-crisis development strategy, that long-term finance is required.

During Dr Vysokov’s presentation and many meetings, international financial institutions and commercial banks confirmed their willingness to participate in the implementation of Center-Invest Bank’s programme «Southern Russia Against the Global Crisis». In the interests of: increasing international cooperation, making SMEs in southern Russia more effective, developing infrastructure and agribusiness, and introducing energy efficiency technologies.

Center-Invest’s Bank portfolio of loans for energy efficiency projects in southern Russia has reached RUR1bn.

Energy efficiency projects implemented by Center-Invest’s customers have achieved an annual reduction in CO2 emissions of 8,700 tonnes.

By switching to energy efficiency technologies, dozens of companies banking with Center-Invest have already been able to cut their costs and win competitive advantages for the sustainable development of their businesses in the post-crisis economy.

With Center-Invest’s support, investment has been secured for the bank’s associate company, Teploenergo, a district heating company in the city of Taganrog (Center-Invest Bank has a 47.31% interest in the company): a ten-year EBRD loan for RUR221m has been obtained.