foir print

16.05.2011

Partnership for economic development in southern Russia

A EUR1.117m trade finance deal has been agreed under the “Partnership for Modernization” programme being implemented by Center-Invest Bank and partner banks. ОАО Rezmetkon (Bataisk, southern Russia) has signed an agreement with its Austrian partner, Linsinger Maschinenbau Gesellschaft m.b.H (a customer of Raiffeisenlandesbank Oberösterreich AG), for the supply of equipment using the products of Center-invest Bank Trade Finance Programme.

The attractive conditions offered by the two cooperating banks under the Trade Finance Program let the Russian companies implement their modernization plans at low costs by involving state of the art Austrian technologies and know-how.

The southern Russian company will use the Austrian equipment to increase its production capacity, make its products more competitive, and reduce its manufacturing costs and the cost of production. Under the “Partnership for Modernization” cooperation programme, banks are joining forces to establish direct contacts between businesses in southern Russia and potential partners in Austria and Germany.

Center-Invest and Raiffeisenlandesbank Oberösterreich AG are providing their customers with advice on financing structures for their projects and also on risk management during project implementation.

Southern Russia is of interest to Austrian partners as a rapidly developing region with a diversified economy and a dynamic business sector,” says Dr. Vasily Vysokov, President and Chairman of the Board of Center-Invest Bank. “Russian companies are actively looking for ways to make their businesses more efficient, such as using international best practice and new technologies and equipment, and improving the quality of their goods and services.”

Center-Invest Bank is stepping up its cooperation with international partners to promote the modernization of SMEs in southern Russia on the basis of traditional banking services: payments, documentary business, and trade finance. With the products available under Center-Invest Bank’s trade finance programme, deals can be structured in the best possible way, the risks to counter-guarantors are minimised, international trade payments are improved, and customers can obtain finance with preferential lending rates.

To stimulate the search for partners to create joint enterprises, Center-Invest Bank has updated the “Partner” Database (mbdon.ru/enterprise). This online resource means that any company can use the Internet to find and select a partner from among SMEs in the Rostov region. Since the beginning of the year, more than 43,000 users have visited the site.