INVESTFOND THE "USA-ROSSIJA" PLANS TO ALLOCATE ABOUT 50 MILLION DOLL ON
INVESTFOND THE "USA-ROSSIJA" PLANS TO ALLOCATE ABOUT 50 MILLION DOLL ON
DEVELOPMENT OF SYSTEM OF HYPOTHECARY CREDITING IN THE RUSSIAN FEDERATION.
Moscow, on June, 17th. A/PRIME-TASS/. Investment fund "USA-Russia"
Plans to allocate about 50 million doll for development of system of the hypothecary
Crediting in Russia. It was declared today at a briefing by the president
Fund David Johns.
As he said, in May 1999 g the fund had been started the pilot
The program of hypothecary crediting in St.-Petersburg, in which frameworks
To agency on hypothecary crediting the first long-term has been allocated
The credit at a rate of 5 million dollars According to the president of fund, after crisis
Rate of activity of campaign was a little slowed down. However, in the beginning 1999
g projects on crediting have been renewed, on a number from them fund even
Has come nearer to pre-crisis level.
In St.-Petersburg fund together with the European bank
Reconstruction and developments and company Radisson SAS have generated
Financial package in 26 million doll/23,4 million EKJU/in favour of Joint-Stock Company "Corporation
"Hotel" which will be engaged in hotel Radisson SAS building
Royalhotel "St.-Petersburg" on 126 numbers. The hotel will be
To settle down on the Neva prospectus and it is expected, that will open in the end
2000
Besides it, the fund finances small and average business, is engaged
The mortgage, leasing operations, crediting under purchase
Cars.
As the president of fund has informed, now the fund also searches
Possibilities under investments into bank sphere. Negotiations were already carried on with
A number of the Russian banks about occurrence possibility in them ustavnyj the capital.
"Now we are in very advanced stage of negotiations with one of
The Russian banks ", he has told. Participation in the bank capital can
To fluctuate from 10 to 50 percents
As the senior vice-president of investment fund "has noted the USA -
Russia "James Huf, fund increases now rate
Activity on granting of credits to the small and average enterprises and
Under this project the quantity of banks-partners of fund has increased with 14 to
27. In the near future the fund will sign the agreement with Guta-bank and
Investment bank corporation in the field of the hypothecary
Crediting.
Hypothecary credits are given within 5 years physical
To persons on habitation acquisition in Moscow and on island Sakhalin.
Next week, Elena has informed the vice-president of fund
Klepikova, the first agreement with bank will be signed in Sankt -
Petersburg, and also negotiations with 6-7 further will be carried on
Banks which will probably join the program. Besides,
She has told, probably, it will be possible to persuade administration Sankt -
Petersburg to give a guarantee on 30 million doll on realisation of this
Programs.
Besides it the fund supports Agency on the hypothecary housing
To crediting also hopes, that on means of fund the agency will be
To buy hypothecary housing certificates from banks. Volume of investments,
Assumed for this program, makes 50 million dollars
The fund has suggested several banks to participate in St.-Petersburg
Under various projects, in particular, to banks "Petrovsky",
"Baltic", promstrojbanku/Sankt-Peterburg/and to branches of the Moscow
Bank of Moscow and Alpha bank. Earlier these enterprises as has noted
E.Klepikova, worked already under the small-scale business program.
As the president of fund has noted, level of return of credits is enough
The high. As a whole under programs it makes an order of 99 percents
From the most attractive branches the president of fund has named
Pharmacological branch, drugstores, the gas station processing the food
The industry, and also trade.
During 1998 g direct investments in such companies have been made
As investment fund "Agri-business", in company Independent Network
Television Holdings TV-3/channel in St.-Petersburg/, in the company
"Invokorp" / wholesale trade in pharmaceutical production/, the company
"poligrafoformlenie", in the company "Lomonosovsky porcelain factory", in
Company "п?п я пЁп " / business services/, in magazine Russian Petroleum
Investor, in the company which is engaged butilirovaniem of spring water
"A sacred source", in paging company "ц ц ц б©б б ц б?ц б ", in the company
Story First Communication, in the company on manufacture of beer Sun Brewing
Ltd, in the Central department store.
At the same time, as the president of fund, for last two years has noted
There is an excess of expenses of fund over incomes at a rate of 6 million
doll, that is connected as with direct with the beginning of job of the company, so
And with creation of a considerable quantity of branches across Russia.
Investment fund "USA-Russia" - the private company created in
1995 g for assistance to the Russian market reforms. The fund has received
Initial financing from the congress of the USA in 440 million volume doll,
And the fund board of directors affirms the US president. Fund
Gives financing and the help in the management organisation
To the various Russian and western companies, carries out the program
Crediting of small and average business of Russia. On the past end
Fiscal year volume of direct investments and investment obligations
Fund within the limits of 28 projects has exceeded 100 million dollars Besides, more
300 Russian enterprises have received credits for a total sum from above 25
Million doll under the program of crediting of a small-scale business. In 1998 g
The department of direct investments of fund has carried out investments on the general
The sum more than 20 million dollars - 0 - ag/oa
//* an information Source: the Prime-TASS (vecher.vyp), 17.06.99
//* Reg. Nom. - 1090600234.52-------------------------------------------
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