foir print

15.06.2006

Center-invest Bank presented the South of Russia for the Union of German economy

On June 15 the Chairman of the Board of Directors of OJSC Center-invest Bank, professor Vasily V. Vysokov, doctor in economics, made a speech “New opportunities for the development of business in the South of Russia” for the members of the Union of German economy in Russia within the framework of informational presentation “Investment potential of the South of Russia. Southern Federal District presentation.”

The Union of German economy in RF embraces over 420 German enterprises, which operate in Russia. The aim of the Union is to offer support to the German enterprises in Russia and facilitate optimization of joint work with Russian partners for the benefit of both parties.

In his speech professor Vysokov presented the analysis of the economy of the South of Russia from the point of view of the consumers, producers, infrastructure, investments and finances. The results of the analysis are aimed at development of the regional strategy for German companies in the South of Russia.

Independent director of Center-invest Bank, ex-president of Deutsche Bundesbank (Germany), Ernst Welteke shared his personal impressions with the participants of the meeting about the meetings and business contacts in Rostov region and Krasnodarsky krai, and also within the framework of the 10th economic forum in Saint Petersburg with the heads of the German companies and Russian political leaders.

The Head of the representative office of Center-invest Bank in London, Olga Vysokova presented the technologies of work of Rostov Bank to develop international cooperation between SMEs of Europe and Russia.

The members of the Rostov region administration and German bank for the development KfW also took part in the event.

Sabina Alk, a consultant working in Center-invest Bank within the framework of the program for KfW technical assistance presented the results of KfW work in lending to SMEs in the South of Russia. In 2004 KfW opened a credit line to Center-invest Bank for lending to SMEs of the South of Russia to the amount of EURO 6 million for the term of 6.5 years for enterprises of the industrial sector, service and trade spheres for modernization and purchase of new equipment.

Deputy minister, the head of the department for development of small business and interregional links under administration of Rostov region A.N. Palagina told about the measures to support SMEs, to develop international cooperation and program of international conference-show for German goods, services and technologies within the framework of the “Small business week” (Rostov-on-Don, 9-11.11.06).

After the presentation of the South of Russia the representatives of German companies discussed with the staff of Center-invest Bank, “Mauer” group of companies and “Selmashinvest” group the prospective projects of international cooperation.

Insertion:

Member of the Executive Board of KfW bank group, Ingrid Matthäus-Maier: “Center-invest Bank, being one of the largest commercial banks focused on SMEs financing, plays a great role in the South of Russia. KfW provides the support to Center-invest Bank aimed at make its input into the process of further construction and development of healthy Russian banking and financial systems as well as to increase availability of loans to SMEs”.