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Bank Center-invest and IFC – new horizons of international cooperation

On July 24 the delegation of Municipal fund of World Bank and International Finance Corporation (IFC – a structure of World Bank) made a business visit to Bank Center-invest.

Municipal fund supports investments realized by different structures (state structures and finance organizations). The fund considers the projects of different spheres of public services, including: water supply, transport, electricity, central heating etc. Usually fund invests from 5 to 50 million US dollars.

In the frames of meetings and negotiations the specialists of Bank Center-invest and Municipal fund of IFC exchanged experience, presented the results of work of the first half of 2005. The possibilities of cooperation between the Bank and the Fund and schemes of Fund work with Bank Center-invest customers were discussed.

On July 28 and 29 IFC specialists visited Bank Center-invest to familiarize with mortgage programs of the Bank. Since the beginning of 2005 over 150 Rostov families have obtained new flats due to mortgage program of Bank Center-invest. Bank Center-invest became IFC partner in 2002. Since that time IFC has granted to Bank Center-invest credit lines for lending to SMEs of South Federal District to the amount of USD 7 million and also subordinate loan to the amount of USD 5 million.

Let us remind you that IFC is going to grant to Bank Center-invest a credit line to introduce energy-saving projects. IFC and Bank Center-invest plan to finance projects of industrial, service and 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.