Minsk, Belarus, August 5, 2014—IFC,
a member of the World Bank Group, doubled its investments in Belarus over
the past fiscal year, helping boost foreign trade and improve access to
finance for Belarusian exporters and other small and medium-sized companies.
During fiscal year 2014, which ended
June 30, IFC committed a record $158 million in Belarus from its own account,
up from $80 million the previous year.
“We had a strong year in Belarus,”
said Rufat Alimardanov, IFC’s regional head for Belarus and Ukraine. “IFC
focused its work on supporting private sector development in the country
and further expanding foreign trade, through improved competitiveness and
access to finance for local producers. These are key components for long-term
In FY14, IFC committed $137 million
to five Belarussian banks under its Global Trade Finance Program (GTFP),
which broadens access to finance for companies and reduces risks for local
banks. GTFP launched in Belarus in 2009. Since then, IFC has provided a
total of $350 million in guarantees to Belarussian banks.
In addition, IFC provided a loan of
up to $7 million to Belarusky Narodny Bank to help expand access to finance
for small and medium enterprises. Other initiatives over the past fiscal
year included debt financing of $13 million to Isobud, a leading producer
of aluminum sandwich panels in Belarus, to support its expansion and modernization
IFC is also implementing an advisory
program in Belarus, focusing on improving the country’s business environment
and investment climate. IFC also continued supporting Belarusian producers
in their efforts to access new markets and become more competitive through
enhancing their food safety practices. In the last fiscal year an agreement
to help a leading Belarusian retailer, Rubliovskiy Group, improve food
safety was signed as IFC's first integrated investment and advisory project
in Belarus’ retail sector.
IFC’s total investments in Europe and
Central Asia region reached a record $4.7 billion during FY14 in 117 projects,
including $1.2 billion in funds mobilized from its partners.
IFC, a member of the World Bank Group,
is the largest global development institution focused exclusively on the
private sector. Working with private enterprises in about 100 countries,
we use our capital, expertise, and influence to help eliminate extreme
poverty and boost shared prosperity. In FY14, we provided more than $22
billion in financing to improve lives in developing countries and tackle
the most urgent challenges of development. For more information, visit