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
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
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
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.