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IFC Hands Over Historic Photo Exhibition of Russia’s Mortgage Industry to Museum


In Moscow:
Lydia Golikova

Phone: +7 (495) 411-7555 x2116

E-mail:
lgolikova@ifc.org


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 It is the only collection of its kind, with over 70 unique photographs and historical documents that tell the story of the country’s mortgage industry from the 18th century to today.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 initiatives.”

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.

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 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.

About SECO

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.


About EVD

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.