Moscow, Russian Federation, July 12,
2012—During fiscal year 2012, IFC, a member of the World Bank Group,
supported the private sector in Europe and Central Asia by investing a
record $4.2 billion in 114 projects; advising banks on risk and nonperforming
asset management; and advising companies on sustainable business practices
and public-private partnerships.
IFC channeled about 55 percent of its total commitments in Europe and Central
Asia to the financial sector, expanding access to finance for businesses
and individuals, with a focus on underserved countries and regions. Some
$1.3 billion of IFC’s commitments were mobilized from international and
regional commercial banks, despite the economic uncertainty in European
financial markets affecting much of the region, constraining credit and
Tomasz Telma, IFC Director for Europe and Central Asia, said, “IFC continued
to play a countercyclical role in Europe and Central Asia in fiscal 2012
by supporting inclusive and sustainable private sector growth, with a focus
on access to finance, agribusiness, infrastructure, and climate change-related
Highlights of IFC’s results in the region for FY12, which ended on June
· IFC invested a record $2.3 billion in 72 financial-market
projects, complemented by advisory services focused on corporate governance
and risk management, helping expand access to finance for micro, small,
and medium companies.
· IFC’s trade finance program provided a record
$926 million of guarantees facilitating cross-border trade and economic
· IFC invested more than $1 billion in 46 projects
targeting micro, small, and medium enterprises.
· IFC’s investments targeting the region’s
poorest countries totaled $265 million in 26 projects.
· IFC supported five South-South investments
among emerging markets totaling $287 million in financing.
· IFC invested $854 million in 18 projects in
infrastructure and natural-resources sectors, including railway and information
technology in Russia; renewable energy in Bulgaria, Croatia, and Romania;
and a port terminal in Ukraine.
· IFC invested more than $1 billion in 25 projects
in manufacturing, agribusiness, and services sectors—supporting agribusiness
in Georgia, Serbia, and Ukraine; aluminum products manufacturer in Belarus;
and health-care providers in Russia and Turkey.
· IFC continued to advise banks on better risk
and asset management and financing climate-friendly projects; manufacturing
companies on sustainable business practices, resource, and energy efficiency;
and governments on improving investment climate and structuring public-private
partnerships through 105 advisory projects.
· IFC’s regional advisory programs for cleaner
production, renewable energy, and energy efficiency helped private sector
companies avoid about 700,000 tons of emissions of carbon dioxide.
· IFC Advisory Services targeting agribusiness
continued to provide training and advice to government inspectors and food
producers on international best practices in food safety, helping improve
competitiveness of local food processors.
· IFC Advisory Services supported governments
in reforming business inspections, permits, and tax-administration systems,
contributing to more than 400 legislative acts to improve the business
climate within the region.
In FY13, IFC will continue to support the diversification of economies,
ensuring access to basic goods and services and expanding efforts to counteract
climate change. By focusing on the poorest countries and regions, IFC aims
to create opportunity where it’s needed most.
IFC, a member of the World Bank Group, is the largest global development
institution focused exclusively on the private sector. We help developing
countries achieve sustainable growth by financing investment, providing
advisory services to businesses and governments, and mobilizing capital
in the international financial markets. In fiscal 2011, amid economic uncertainty
across the globe, we helped our clients create jobs, strengthen environmental
performance, and contribute to their local communities—all while driving
our investments to an all-time high of nearly $19 billion. For more information,