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20.12.2013

20 million Euros to support SMEs in South Russia

Center-invest Bank and Black Sea Trade and Development Bank (BSTDB) signed a Loan Agreement for 20 million EUR. According to the Agreement, BSTDB is providing this credit line, with a term of 5 years, to southern Russia’s leading bank to finance small and medium enterprises (SMEs). This agreement continues a long and fruitful cooperation between the two banks, which began in 2007.

Center-invest Bank will screen over companies for future financing and continue to provide preferential loans for modernization based on main principles of new strategy “The Global Competitiveness of Center-invest Bank’s Customers”.

Borrowed funds from our reliable partner — Black Sea Trade and Development Bank — will allow us to offer favorable terms for regional companies to expand their production , modernization of agriculture equipment and reconstruction of agriculture machinery and reconstruction of production facilities”, — said Mr. Sergey Smirnov, Deputy Head of Corporate Lending department of Center-invest Bank.

Supporting the development of the real economy sector is one of the BSTDB’s key priorities, particularly in the current challenging environment, where access to funding is limited. This loan will help raise the competitiveness of SMEs , while also providing a boost to the banking sector in Southern Russia”, said Mustafa Boran, BSTDB Vice President Banking.

Joint project with Center-invest Bank will facilitate to the sustainable growth of business of small and medium companies, development of competitive environment and improvement the competitiveness of SMEs in the domestic and international financial markets, the development of infrastructure and institutional framework for a market economy in Southern Russia.