Press Releases

IFC and Russian Union of Industrialists and Entrepreneurs Encourage Companies to Get Involved in Community

Contact in Moscow:
Kseniya Britikova

Phone: + 7 095 411 7555        


April 14, 2005, Moscow – Two years ago, IFC and the Russian Union of Industrialists and Entrepreneurs teamed up to implement a program called “A Chance to Work.” The goal is to help Russian orphans build the confidence and professional skills they need to enter an independent adult life, as well as to promote corporate social responsibility among companies based in Moscow. With the help of a group of Russian charities, IFC selects and trains orphans on how to write resumes and interview with employers. IFC then helps the orphans find internships that provide on-the-job professional training with private companies participating in the program.  
To date, more than 70 orphans have received specialized training, 50 of whom have been placed in internships or have gone on to find permanent jobs. Some 17 companies are participating in the project, about half of which are Russian-owned and -managed.

Arkady Volskiy, President of the Union, and Edward Nassim, Director of IFC’s Central and Eastern Europe Department, recently presented Certificates of Appreciation to companies involved in the project, and they encouraged more Russian companies to give back to their communities. Mr. Volskiy noted that there are many ways that businesses can support their communities:  "Not all companies have available assets that they could direct to charity, but almost all can offer a helping hand to the people  that need it most."

IFC has committed more than $250,000 to the program and is working with the Union to make it sustainable for years to come. According to Mr. Nassim, "IFC is delighted to see companies participate in A Chance to Work, and we encourage more companies to get involved in their communities, either through this project or by giving back in other ways."

The mission of IFC ( is to promote sustainable private sector investment in developing countries, helping to reduce poverty and improve people’s lives. IFC finances private sector investments in the developing world, mobilizes capital in the international financial markets, helps clients improve social and environmental sustainability, and provides technical assistance and advice to governments and businesses. From its founding in 1956 through FY04, IFC has committed more than $44 billion of its own funds and arranged $23 billion in syndications for 3,143 companies in 140 developing countries. IFC’s worldwide committed portfolio as of FY04 was $17.9 billion for its own account and $5.5 billion held for participants in loan syndications.