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IFC and the Netherlands Help Boost Growth of Ukraine’s Leasing Industry


In Moscow

Ilya Sverdlov

Phone: +7495-411-755

E-mail:
isverdlov@ifc.org

In Kyiv:

Andriy Gulay

Phone:  +380-44-490-6400

E-mail:  
agulay@ifc.org


Kyiv, Ukraine, April 2, 2008—IFC, a member of the World Bank Group, today released the results of a survey on Ukraine’s leasing market that highlights the sector’s growth and investment opportunities.  The presentation of the results coincided with the official completion of the IFC Ukraine Leasing Development Project, which, for the last four years, has worked to help develop the leasing industry and the Ukrainian Union of Lessors.

The project, established in March 2004, has helped the Ukrainian government draft three leasing acts and has recommended improvements to 19 leasing-related legislative acts, including a law on financial leasing.  It has also provided consulting services to leasing companies, helped establish a certified leasing program, implemented a public awareness campaign, published a magazine, and attracted 70,000 visitors to its Web site,
www.leasing.org.ua.

“More than 1,500 jobs have been created in the leasing industry since 2004, in addition to those created by businesses that use leasing to expand operations.  IFC has helped increase the level of professionalism in the industry by providing training to more than 400 representatives of Ukraine’s financial institutions,” said Frédéric Hamain, Head of the Supervisory Board for the Ukrainian Union of Lessors and General Director of ALD Automotive Ukraine.


“We are proud of the remarkable growth of Ukraine’s leasing industry since the project began.  The total value of the leasing market has reached almost $4 billion, and it is expected to expand significantly.  Through the project, foreign leasing companies were able to enter the market and increase competition, bringing the overall cost of leasing down and improving access to underserved markets,” said Ernst Mehrengs, IFC Project Manager.


The Ukrainian Union of Lessors will continue to lobby the government for better legislation and regulations. It will also conduct annual market surveys, manage the Web site, and provide training to leasing professionals. The project’s magazine, Leasing in Ukraine, has been transferred to a local publishing house.


The IFC Ukraine Leasing Development Project was financed by the Dutch Ministry of Economic Affairs.  

About IFC
IFC, a member of the World Bank Group, fosters sustainable economic growth in developing countries by financing private sector investment, mobilizing private capital in local and international financial markets, and providing advisory and risk mitigation services to businesses and governments. IFC’s vision is that poor people should have the opportunity to escape poverty and improve their lives. In FY07, IFC committed $8.2 billion and mobilized an additional $3.9 billion through syndications and structured finance for 299 investments in 69 developing countries. IFC also provided advisory services in 97 countries. For more information, visit
www.ifc.org.

About the Agency for International Business and Cooperation (EVD)
EVD is part of the Dutch Ministry of Economic Affairs.  Its mission is to promote and encourage international business and international cooperation. As a state agency and a partner to businesses and public-sector organizations, it aims to help them achieve success in their international operations. A growing network of organizations, government institutions, and companies has come to rely on the EVD for information about foreign markets, governments, and trade and industry. With its wide-ranging knowledge, the EVD is able to develop products and services that meet the needs of its customers and clients. It obtains its information from its network of Dutch and international organizations, which include international financing organizations, the European Commission, embassies, chambers of commerce, local business support offices, trade representative associations, and trade and industry.