foir print

30.09.2004

THE INTERNATIONAL GUARANTEES FOR THE CREDITS OF THE JSC CENTER-INVEST BANK

The Agency of the International Development of the USA (USAID) has stood for the guarantor of the JSC Center-invest bank credits for the small enterprises on a total sum of $ 6 millions.

The guarantee line is open within the framework of the Credit Guarantees Granting Program (LPG). The first guarantee line of the USAID to the JSC Center-invest bank in the total sum of $ 2 millions was open in 2002 for the period of 5 years. The successful realization of the joint program has allowed to expand this line to $ 6 millions the same year.

The guarantee, given to the JSC Center-invest bank, was preschedully distributed during 1 year and 8 months. In its frameworks over 270 credits were given out to the small enterprises of the Don region.

Under the agreement the USAID incurs 50 % of the risk covering upon the credits, given by the JSC Center-invest bank to the small enterprises of the South of Russia. This measure will allow to lower the size of maintenance under the given credits for the clients of the bank.

The maximal sum of the credit for a small enterprise under the guarantee program, held with the USAID, makes 200 000 dollars.

In September of the current year the European Bank for Reconstruction and Development has also open a line for crediting small and average business at a rate of $ 5 millions to the JSC Center-invest bank. The new credit line allows to render support to the enterprises for the term up to 5 years.

For today over 6000 small enterprises are served in the JSC Center-invest bank. The total sum of credits, rendered to the small business by the JSC Center-invest bank is about 3.5 billion rubles.