foir print

07.09.2007

Bank Center-invest and EBRD develop socially important projects in the South of Russia

On September 7 in Sochi Center-invest Bank and European Bank for Reconstruction and Development (EBRD) signed an agreement on granting a syndicated loan amounting to RUR 1 billion for the term of 7 years to Bank Center-invest. Funds will be allocated to the development of mortgage lending and implementation of energy-saving technologies in the South of Russia. It is planned that FMO (De Nederlandse Financierings Maatschappij voor Ontwikkelingslanden NV) will become a participant of the syndication.

There was also signed an agreement with Russia Small Business Fund (RSBF, an EBRD structure) on granting a five-year loan amounting to RUR 260 million for the development of small business in the South of Russia.

EBRD representatives underlined the importance of the settlements – as Bank Center-invest was one of the first banks in the Russian market to get access to investments for such a large term in RUR while the funds will be directed to realize socially important projects in the South of Russia.

As a result of realization of investment projects in energy-saving, small business and mortgage lending, population of the South of Russia will receive a possibility to live in modern, “smart” houses saving energy and natural resources while managed by efficient companies.

Investment experience of Bank Center-invest in housing and municipal services in Taganrog is already providing help to the citizens of the birthplace of famous Chekhov in saving the environment and resources and personal savings. Due to Center-invest Bank financing, OJSC Heat and Energy Enterprise for Heat Network “Teploenergo” uses 2 modern boilers instead of 8 old ones. Modern boilers produce more energy while current expenses for production of 1 Gcal have reduced 3 times and CO2 emission has reduced by 217 ton/year.

Bank Center-invest plans to use experience of living conditions increase, financing of energy-efficient technologies implementation and management of houses in development of Sochi – capital of winter Olympic games in 2014.

By now Bank Center-invest offices in Sochi, Anapa, Novorossiysk and Pyatigorsk offer to the customers special program of mini-hotels reconstruction and development financing including installation of energy-efficient equipment.