Moscow, Russia, November 25, 2013—IFC,
a member of the World Bank Group, and Renault-Nissan Alliance are joining
forces to provide advice and technical support to auto parts makers in
Russia, part of an effort to foster economic growth across the country.
IFC and Renault-Nissan Alliance will help suppliers improve their corporate
governance, modernize their production facilities, and conserve resources.
That will help parts makers meet international manufacturing standards
and ensure their businesses remain sustainable over the long term. It will
also support economic diversification in Russia; parts makers are important
sources of jobs and many operate in the country’s more remote regions.
“Russia is a country of strategic importance for the Renault-Nissan Alliance,
which has experience world-wide in increasing the standards and global
competitiveness of local suppliers,” said Bruno Ancelin, Senior Vice President
of Renault, Chairman of the Eurasia Region, and Managing Director of Renault
Russia, speaking on behalf of the alliance. “This agreement is a necessary
step that will help enhance the Russian automotive industry and fulfill
our strategic plans.”
The project is part of a wider IFC effort to support Russia’s entire automotive
industry, including suppliers and manufacturers. IFC also works to improve
distribution networks and support changes to the regulatory environment.
“IFC’s aim in Russia is to support the diversification of the economy
and promote sustainable growth,” said Jesper Kjaer, IFC’s Regional Head
of Advisory Services for Europe and Central Asia. “Our cooperation with
Renault-Nissan Alliance will help local suppliers of Russia’s fast-growing
car manufacturing sector become more competitive and integrated into the
global automotive supply chain."
The Renault Nissan Purchasing Organization, a subsidiary of the alliance,
will play a key role in the agreement. It covers world-wide purchases for
Renault and Nissan, and helps local suppliers improve the competitiveness
of their parts.
Russia became a member and shareholder of IFC in 1993. Since then, IFC
has invested more than $11 billion in Russia, including $3.4 billion in
syndicated loans, and has been involved in 294 projects across a variety
of sectors. IFC’s investment portfolio in Russia stands at $2.2 billion,
the fifth-largest country exposure for IFC globally.
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 more than 100 countries, we use our capital, expertise,
and influence to help eliminate extreme poverty and promote shared prosperity.
In FY13, our investments climbed to an all-time high of nearly $25 billion,
leveraging the power of the private sector to create jobs and tackle the
world’s most pressing development challenges. For more information, visit
About the Renault-Nissan Alliance
The Renault-Nissan Alliance is a strategic partnership between Renault
(based in Paris, France) and Nissan (based in Yokohama, Japan), which together
sell one in 10 cars worldwide. Renault and Nissan have been strategic partners
since 1999 and sold 8.1 million cars in nearly 200 countries in 2012. The
alliance operates strategic collaborations with numerous automakers, including
Germany’s Daimler, China’s Dong Feng, and with regional manufacturers
such as Ashok Leyland in India. For more information, please visit: http://blog.alliance-renault-nissan.com