Mintimer Shaimiev met with the governing body of the bank group KfW

Tatarstan President has met with the chairman of the governing body of Credit Institution for Economy Recovery, KfW, Ingrid Matteus-Mayer on July 27.

During her visit to Kazan Ingrid Matteus-Mayer is accompanied by several representatives of KfW: the head of the department for financial sector development in European region Claus Glaubitt, the head of Russian representative Daniel Algoulyan, project-manager Elvira Letting and others. Republican organs of government have been presented by RT President’s state councilor on international questions – director of the Department of international affairs Timur Akulov, and Tatarstan Minister of Economy Marat Safiullin.

The group KfW was created in 1948 in Germany; and it played very important role in Germany recovering after the war. First of all it played very important role in distribution of the money, which was given by the USA within the framework of Marshall’s plan. Now KfW is the biggest state credit organization, which includes former German reserve bank, German union for investments and development (DEG) and export financing bank (KfW – Eximbank). KfW’s starting capital was formed due to Germany Government’s contribution (80 percents) and Germany federal lands (20 percents). Group’s actives are more than 369 billion Euros. In 2006 total investments of KfW were 76,8 billion Euros. The headquarters of bank group is situated in Frankfurt-on –Mine. The stuff is more than 3,8 thousand people.

KfW doesn’t have long history in Tatarstan. In 2006 the group signed an agreement with Spurt bank.

During the meeting Mintimer Shaimiev has told the guests about Tatarstan economical potential, about agriculture policy in the republic, and the measures of state support for the development of small and middle business. He has pointed out that Tatarstan economy differs from Russian average indexes; it is shown by the increase of industrial productions’ volume, services and also more developed financial organizations.

After the meeting Ingrid Matteus-Mayer and Marat Safiullin have answered journalists questions.