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"Center-invest" develops contacts with IFC

On 20 June, 2003 in Moscow there was held meeting between Peter Voyke the Vice President of the World bank's investment division of International Financial Corporation (IFC) and representatives of Russian regional banks. The Rostov Region on business breakfast was represented by Chairman of Directors board of Center-invest bank, Professor V. V. Vysokov.

At meeting were discussed the development strategy of regional banks in Russia, their cooperation with IFC including those on project of bank corporate management improving and spreading of long term investment.

This project has been already launched in the Rostov region. Due to the participation in this program bank Center-invest managed to get IFC credit line for 3 years on a total value of USD2mln. Specialists of IFC helped to improve operations realization and bank management system (including raising profitability by decreasing corporate costs), to create new strategy of development, and to train bank staff to use new methods of credit estimation, control of deposits, and internal auditing.