foir print

04.06.2004

THE OJSC “CB CENTER-INVEST” HAS EXPANDED ITS COOPERATION WITH EUROPEAN BANKS

Within the framework of the trade financing program another two foreign banks – BCP Bank (Geneva, Switzerland) and SanPaolo IMI SPA (Italy) have opened a line on acknowledgement of guaran-tees and letters of credit for the OJSC “CB Center-Invest”.

The Swiss bank has opened the credit line on documentary op-erations for about 360 days for the sum of 1,5 million of Swiss franks. On conditions of the agreement the Swiss party incurs ac-knowledgement of the letters of credit and guarantees, granting of payments delay on the foreign trade operations for the clients of the OJSC “CB Center-Invest”.

The similar line was given by SanPaolo IMI SPA for about 18 months for the sum 800 thousand euro. The OJSC “CB Center-Invest” has already possessed experience of working with the Italian fi-nancial organizations. The Bank has already made the Agreement on creation of the joint small enterprises with the Italian state corporation SIMEST.