Vladimir Fedorov Senior Banker, Russian HQ Team,EBRD, UK

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he task of EBRD is to promote the market mechanism, mainly, in countries of Eastern and Central Europe, in republics of the former Soviet Union. Besides financing the bank provides assistance to its clients in ecology matters. This might be a corporate management, a help that a client cannot find anywhere else. The bank also promotes improvement of the investment climate being in close contact with governments, legislative bodies in order to upgrade the legislative basis. The corporate management, particularly since 1998, has become one of the most important aspects of all projects that the bank has been dealing with.
EBRD is quite interested in activities connected with the steel industry and non-ferrous metallurgy. We are opening our door with pleasure to any Russian company that knocks at it. We are ready to act fast. There is no need to get afraid of our bureaucracy. If you have projects, do come to us. We do not limit ourselves to short-term crediting and can provide credits for up to 8 years. We are ready to accept shares as part of financing and we are prepared to work both in the so-called green sector and the corporate sector. You can easily ask us to help. But when you make up your mind to do it, do not forget to bring along with you your well-founded and reasonable business plan. And, then, on the basis of your business plan we will work out a joint document. 

David Taylor Head of Corporate Banking, Moscow Narodny Bank Limited, UK

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t should be stated with all certainty that Russia is quite popular in the West’s financial circles. For the last year I could not stop wondering how much appetizing to foreign banks Russia is. Creditors are ready and willing to maintain relations with corporate companies. We are witnessing the political stability, reforms, Russia’s economic growth. I would like to remind: in 2000 the volume of crediting fell down by 14% but now it is growing. Let us wait and see what the figure will be in 2003.
The European markets are opening to Russian corporate structures. It has now become possible to float bills in the market for up to 7 years. And this attracts big funds. Recently ALROSA, the largest producer of diamonds, issued promissory notes: I think that originally they planned to issue them for the total amount of $300 million but the demand exceeded $1billion.
There are quite a few banks wishing to work with Russian companies, including producers of metals. I mean those companies, which have a good credit background and which can prove that their activity is well-grounded. These companies are open and transparent. This means that we can obtain not only the financial information but also to possibly understand how they are doing their business. Banks want to diversify their portfolios, step aside from solely the oil business and deal with other industries. In our view, the steel industry is one of the most attractive market sectors. We are ready to work with Russian companies.