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Industrial Development for Small and Medium Businesses in the Rostov Region

The Rostov Bank Center-invest has presented its 'Industrial Development for the Small and Medium Businesses in the Rostov Region' project at the 2002 World Bank's Annual Meetings in Washington, D.C. on September 27-30, 2002.

According to Center-invest experts investment requirements of the Don small and medium businesses constitute USD 200 million, USD 11 million being already attracted by the bank in the way of credit and guarantee lines from international organizations.

The 'Industrial Development' project proposes foreign investors to use financial instruments of guarantees and long-term credit lines alongside with export of equipment for the Don enterprises. Within the limits of the project personnel trainings, consultations, and technical support are to be provided to small businesses of the region.

The project drew attention of the Meetings' participants. Its principal provisions were published in the authoritative international 'Euromoney' magazine. Representatives of the European Bank for Reconstruction and Development (EBRD) and International Finance Corporation (IFC) are going to visit the Rostov region till the end of 2002 in order to get acquainted with the projects for small businesses, reforms in housing and communal services, and activities of the Don banks in accordance with the international standards.