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Bank Center-invest and IFC investments in energy-saving technologies in the South of Russia

International Finance Corporation (IFC, structure of World Bank) plans to open a credit line to Bank Center-invest to introduce energy-saving projects. The first tranche of the line is USD 4,000,000. Maximum possible credit amount for enterprises in the frames of IFC program is USD 1,000,000. Financing can be realized in the form of loans, leasing or factoring.

Let us remind you that Bank Center-invest and IFC in Rostov-on-Don introduced IFC project «Stimulation of investments in energy-saving technologies in Russia» in April 2005.

In the frames of the project IFC grants credits for the projects of SMEs, which use or plan to introduce energy-saving technologies, and also technical consultations by the US specialists.

Technical advisor from IFC will work with Bank Center-invest beginning from September 2005. His task is to realize technical audit and economical and technical bases of energy-saving projects.

IFC and Bank Center-invest plan to finance projects of industrial, service and also municipal enterprises.

Realization of the program will allow reducing expenses of the enterprises of the South of Russia, connected with the growth of prices on energy carriers, as well as reducing atmospheric emission of carbonic acid.

Bank Center-invest became IFC partner in 2002. Since that time IFC has opened credit lines for Bank Center-invest to finance SMEs of South Federal District to the total amount of USD 7,000,000 and also subordinated loan to the amount of USD 5,000,000.

Clients of Bank Center-invest will take part in project in the first place. It is very easy to become a client of Bank Center-invest – you should only establish the settlement account in the nearest of 34 branches and additional offices in Rostov-on-Don, Volgograd, Rostov and Krasnodar regions.