foir print

16.08.2006

Center-invest Bank and Rostselmash promote technical reequipment of the agroindustrial enterprises of the South of Russia

The largest commercial bank of the South of Russia – Center-invest Bank and leading Russian producer of agricultural equipment, Rostselmash company, have signed an Agreement on partnership in the sphere of financing of the agricultural equipment purchase. For the first two weeks agroindustrial enterprises of the South of Russia have been granted financing in Center-invest Bank for the purchase of seven new combine harvesters within the framework of agreement with Rostselmash.

According to the mutual agreement producers of agricultural production of Rostov, Volgograd regions, Stavropolsky and Krasnodarsky krai can now purchase Rostselmash combine harvesters with the help of Center-invest Bank financial instruments. According to the conditions of the agreement, the Bank finances the purchase of any type of combine or forage harvesters produced by Rostselmash for the term up to 36 months with 20% initial payment.

“Agreement on financing of agricultural producers is a part of a program “New industrialization of the South of Russia”, within its framework Center-invest Bank promotes technical reequipment of regional enterprises, increasing competitiveness of the production as well as promotes development of the customers’ business”, - marked the head of department of lending to agribusiness of Center-invest Bank Alexander Bets – “At present, loan portfolio of the Bank in agro industrial complex exceeds RUR 12,7 billion. At the same time our priority is individual approach for the customers’ needs and selection of the optimum financial instruments for any specific business”.

According to the head of Rostselmash, Valery Maltsev, the agreement on partnership with Center-invest Bank is of great importance both for the very company regarding promotion of the production to the regions and for agroindustrial complex itself as it gains additional financial abilities to renew fleet of combines.