foir print

08.12.2004

KFW opened a credit line to Center-invest bank for small business fi-nancing

On December 08 Credit institute for Economic Restoration (KfW – the bank, Germany) opened for Center-invest bank a credit line to finance small and medium-size business of the South of Russia. The line in amount of 6 millions euro was ex-tended to Rostov bank for 6.5 years and destined to producing, service and trade enterprises. The maximal amount of credit within KfW's line comes to 125 thou-sands euro for 4 years.

KfW-bank enters the top-ranked banks of Germany and facilitates economic devel-opment of European, Asian, African and Latin American countries. The authorized capital of KfW is owned by the Federal Government of Germany (80%) and the Federal Lands (20%). Under the patronage of the Ministry of Federal Co-operation and Economical De-velopment of Germany KfW-bank finances social, economical and agricultural projects in partner countries. The goal of KfW's operation in Russia is to increase the living standards of population. Similar goal is also pursued by Center-invest bank – doubling of the client's business and living standards in the South of Russia.

Apart from extension of credit line, KfW's specialists assist in working out of structural policy of small and medium-size enterprises, attraction of long-term investments and economy incentive.

Center-invest bank co-operates actively with foreign partners in the field of small and medium-size business crediting for stimulation of real sector development in the frame-work of Doubling of Business Together with Center-invest bank program. In present the amount of extended by the largest international banks to Center-invest credit and guaran-tee lines for small business financing totals in $22 millions and ?7 millions.