On 10 October Center-invest Bank and the Government of the Rostov region signed an Agreement on Cooperation concerning the priority national, federal and regional projects to increase the competitiveness and investment attractiveness of the Rostov region, and the standard of living.

In particular, the parties agreed to work together to provide finance and support for SMEs, increase the use of salary cards, and implement a range of measures based on modern banking technologies to help the region achieve its social and economic objectives.

“For 15 years Center-invest Bank has outpaced the Rostov region’s economic growth trends,” said President and Chairman of the Board of Directors of Center-invest Bank, Dr Vasily Vysokov. “We are grateful to Vasily Golubev, governor of the Rostov Region, for the wisdom and courage he has shown in recognising this fact, and for supporting our work to localise best international practice in the Rostov region. Mr Golubev has also asked that the bank continue its efforts to raise awareness of what it is doing to make its customers and the Rostov region globally competitive.”

At the press conference held after the signing of the agreement, Governor Vasily Golubev said there was a particular need to support and encourage business start-ups, as they create new jobs and new investment opportunities in the region. He highlighted the fact that as well as providing financial assistance for start-ups, Center-invest Bank has an active policy of training new business people.

Center-invest Bank currently runs two programmes specifically for new entrepreneurs: “Stаrt up” and “Youth Business Russia”. Under these programmes, entrepreneurs aged 18 to 35 can obtain three-year loans on preferential terms, with a six-month grace period, and the bank also offers free business banking, including online banking, for the first year. In addition to preferential loan terms, the Youth Business Russia programme offers a mentoring scheme.

More than 200 new entrepreneurs have already accessed finance and business advice through the “Stаrt up” and “Youth Business Russia” programmes. To date, Center-invest bank has lent RUB250m under these programmes.

Center-invest Bank is committed to helping SMEs in southern Russia operate at an international level. To this end, the bank offers SMEs loans on preferential terms and business advice based on best international practice. Under its strategy to make its customers globally competitive, the bank plans to invest more than RUB20bn in the economy of southern Russia annually.

Center-invest Bank is a market leader for energy efficiency finance and SME lending, including lending to the agricultural sector. The bank’s educational programmes for the local population, entrepreneurs, students and schoolchildren are also an important component of its sustainable banking business model.