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World Bank Managing Director and IFC Executive Vice President Peter Woicke, to Visit Uganda in January 2005


In Kampala:
Dan Kasirye

Telephone: + 077-432916 or 031-221416

E-mail:
Dkasirye@ifc.org

In Washington:

Corrie Shanahan

Telephone: +1 (202) 473-2258

Mobile: +1 (202) 294-4697

E-mail:
Cshanahan@ifc.org


Kampala, January 12, 2005— Mr. Peter Woicke, World Bank Managing Director and Executive Vice President of the International Finance Corporation, the private sector arm of the World Bank Group, will visit Uganda, January 13-15, 2005.

Mr. Woicke’s visit will focus on IFC advisory services, as well as consulting with the government, local private sector representatives, non-profit groups and IFC clients.


The visit underlines the importance and continuing commitment that IFC attaches to its partnership with Uganda. Mr. Woicke will be accompanied by Mr. Dick Ranken, IFC director for Africa.


Meetings with the government of Uganda will give Mr. Woicke an opportunity to discuss economic and social developmental priorities for the country, and how the business environment can be improved for increased private sector development.


IFC’s strategic priorities for Uganda include helping the private sector grow by investing in key export sectors such as agro-processing; tourism and light industries; helping the development of the local financial market, with a particular emphasis on housing finance and leasing; expansion and rehabilitation of infrastructure through technical assistance , advisory services to the government’s privatization program in key infrastructure sectors  ; SME development through capacity building and improving the business and financial operating environment for micro, small and medium-size enterprises.


The mission of IFC (
www.ifc.org) is to promote sustainable private sector investment in developing countries, helping to reduce poverty and improve people’s lives. IFC finances private sector investments in the developing world, mobilizes capital in the international financial markets, helps clients improve social and environmental sustainability, and provides technical assistance and advice to governments and businesses. From its founding in 1956 through FY04, IFC has committed more than $44 billion of its own funds and arranged $23 billion in syndications for 3,143 companies in 140 developing countries. IFC’s worldwide committed portfolio as of FY04 was $17.9 billion for its own account and $5.5 billion held for participants in loan syndications.
 
In FY04, IFC committed 25 projects in 12 countries in the Sub-Saharan Africa region for a total amount of $407 million. IFC’s total committed portfolio for the region as of June 30 was about $1.8 billion.