Press Releases

IFC’s Advice Helps Russian City Develop Plan for Lowering Energy Costs and Emissions

In Moscow:
Nezhdana Bukova
Phone: +7 (495) 411 7555

Moscow, Russia, February 27, 2009 — IFC, a member of the World Bank Group, is helping the Russian city of Petropavlovsk-Kamchatsky reduce greenhouse-gas emissions while lowering energy costs and providing adequate heating for as many as 30,000 children in local schools and kindergartens.

An IFC team recently helped the city develop its Public Buildings’ Resource Efficiency Modernization Program, which calls for investment in cleaner technology. Under the program, investments of about $15.5 million to modernize schools and kindergartens would allow the city to reduce carbon dioxide emissions by 35,000 tons a year while lowering energy costs by $3.3 million a year.

“The city administration thanks IFC for support in the development of the Public Buildings’ Resource Efficiency Modernization Program,” said Vasiliy Nikiforov, Deputy Mayor of Petropavlovsk-Kamchatsky. He said the program will lower energy consumption by 20 percent and result in improved conditions for schoolchildren. He also said the city hopes to expand its partnership with IFC.

The IFC team presented its recommendations at a high-level conference in Petropavlovsk-Kamchatsky involving more than 200 representatives of the Russian parliament, key ministries, banks, and nongovernmental organizations. The team is part of IFC’s Russia Cleaner Production Program, which is supported with funds from IFC, the German state of Saxony, and the governments of Finland and the Netherlands.

About IFC
IFC, a member of the World Bank Group, creates opportunity for people to escape poverty and improve their lives. We foster sustainable economic growth in developing countries by supporting private sector development, mobilizing private capital, and providing advisory and risk mitigation services to businesses and governments. Our new investments totaled $16.2 billion in fiscal 2008, a 34 percent increase over the previous year. For more information, visit