Moscow, September 10, 2007—At a
ceremony this week, IFC, a member of the World Bank Group, transferred
its photo exhibition called “250 Years of Russian Mortgage” to the Museum
of Russian Corporate and Financial History, where it will be on permanent
display. It is the only collection of its kind, with over 70 unique photographs
and historical documents that tell the story of the country’s mortgage
industry from the 18th century to today.
Elena Kalmykova, Museum Director, noted,
“By making this unique exhibition available to our patrons, IFC is setting
an excellent example that should encourage Russian companies to share information
and resources with local museums.”
Andrey Milyutin, IFC Project Manager,
said, “The exhibition has generated huge interest from our partner organizations,
experts, and media. It has been held at conferences and in museums
in London, Kiev, and Moscow. The Museum of Russian Corporate and Financial
History is the country’s main repository for corporate and finance records.
It organizes numerous activities for the public, especially for college
and high school students, and we are proud to be supporting these educational
The exhibition was produced by IFC’s
Advisory Services Russia Primary Mortgage Market Development Project in
2005. It was partly funded by the governments of the Netherlands and Switzerland.
For more information, visit http://www.ifc.org/russia_mortgage.
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 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 loan participations 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.
Russia became a member and a shareholder of IFC in 1993. Since then
IFC has invested over $3.6 billion in the country, including $527 million
in syndicated loans, in over 150 projects across a variety of sectors.
IFC’s investment portfolio in Russia currently stands at $2.24 billion,
making it the largest country exposure for IFC globally. IFC has
invested in key sectors including banking, leasing, housing finance, infrastructure,
mining, agribusiness, pulp and paper, construction materials, oil and gas,
telecommunications, information technologies, retail, and health care.
For more information, visit www.ifc.org/europe.
The State Secretariat for Economic Affairs is the Swiss Confederation's
competence center for all the core issues related to economic policy. Its
aim is to create basic regulatory and economic policy conditions to enable
business to flourish and benefit all. SECO also represents Switzerland
in the large multilateral trade organizations and international negotiations,
and is involved in efforts to reduce poverty and help developing countries
with transition economies build sustainable democratic societies and viable
market economies. Each year, Switzerland spends about 1.9 billion francs
on development cooperation and transition assistance to countries.
The Agency for International Business and Cooperation (EVD) is part of
the Dutch Ministry of Economic Affairs. Its mission is to promote and encourage
international business and cooperation. As a state agency and a partner
to both private sector and public sector organizations, EVD aims to help
them succeed in their international operations.