foir print

21.08.2002

Bank Center-invest has brought German combine harvesters to the South of Russia

The first ten CLAAS harvesters have come to Rostov within the agreement with Bank GESELLSCHAFT BERLIN that granted to Bank Center-invest the purpose loan line on total sum EURO 2,96 million for the period of five years. The guarantor for Bank Center-invest became HERMES, the largest German State insurance company.

The agreement allows clients of Bank Center-invest to purchase German harvesters, known for their high quality, on credit for the period of five years. Moreover, the western supplier independently pledges to provide training for personnel and complete service for the delivered machines.

Bank Center-invest successfully passed reliability accreditation in order to receive HERMES guarantees under this agreement. The German party particularly emphasized the fact that the Bank could receive accreditation without additional guarantees from the Russian government, and only due to its own financial showing in accordance with the Russian and international standards.

This agreement is a continuation of Bank Center-invest strategic line in attracting foreign 'long' money to the Rostov region. But unlike the previous successful experience of cooperation with IFC and USAID on long-term crediting small and medium businesses, this time the purpose consumers of the German loan line are going to be agricultural processing enterprises of the South of Russia.