Istanbul, Turkey, September 25, 2014
– In the fiscal year ending June 30, 2014, IFC, a member of the World
Bank Group, invested more than $915 million in infrastructure in Europe
and Central Asia (ECA) in an effort to ensure improved access to markets
and goods and boost economies across the region. These investments included
$350 million mobilized from other sources, including guarantees from MIGA
(the Multilateral Investment Guarantee Agency), another member of the World
For IFC, improved infrastructure is
a long-term priority in ECA and across the globe. As of June 30, IFC’s
infrastructure portfolio in ECA stood at $3.9 billion, including $1.5 billion
in mobilized funds. IFC finances companies and municipalities to support
the development and modernization of transport and utilities, including
heating, water, and sanitation; supports renewable power generation through
investments in solar, wind, and hydro power projects; and provides advisory
services to governments in structuring large-scale infrastructure projects,
particularly public-private partnerships.
“Today, infrastructure is more important
than ever before. In parallel with the rapid development of the digital
economy, people need reliable physical infrastructure to have access to
markets, goods, and services, and thus benefit from inclusive economic
development across the region,” said Tomasz Telma, IFC Director for Europe
and Central Asia. “We are shaping our strategy in this sector. We see
IFC’s role as supporting sustainable urban development, large transportation
projects, public-private partnerships, and major power projects, with special
attention to renewable energy,”
“Infrastructure is a sector that requires
large, long-term investments, and brings significant development results
in return -- to countries and regions,” said Wiebke Schloemer, IFC Regional
Industry Head for Infrastructure in Europe, Middle East and North Africa.
“IFC is uniquely positioned to support this sector, as it can bring together
international and local players, in addition to private and public money,
and make a real difference in people's lives."
One of IFC’s prominent FY14 transactions
in transport infrastructure was the award-winning $450 million deal to
build a new modern terminal at Zagreb International Airport in Croatia.
IFC invested in the holding company and extended a long-term loan for the
project, which is expected to boost tourism and encourage economic growth.
In municipal infrastructure, IFC provided
a loan to the Izmir municipality in Turkey to finance two new tramway lines,
which will have a big impact on people’s daily commute. In Romania, loans
to the Timisoara municipality and the Botosani district heating company
are financing vital improvements in the heating systems of these two cities.
Over the past fiscal year, IFC supported
private sector development in Europe and Central Asia by investing $4.7
billion, including $1.2 billion in funds mobilized from our partners. IFC
also delivered an advisory program worth nearly $40 million with a focus
on projects in IDA countries, fragile and conflict affected countries,
and climate change.
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 about 100 countries,
we use our capital, expertise, and influence to help eliminate extreme
poverty and boost shared prosperity. In FY14, we provided more than $22
billion in financing to improve lives in developing countries and tackle
the most urgent challenges of development. For more information, visit