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IFC’s Europe and Central Asia Clients Boost Financing to Smaller Businesses


In Moscow:


Nezhdana Bukhova, IFC
Phone: +7-499-396-1016        
E-mail: nbukhova@ifc.org

Istanbul, Turkey, October 12, 2015—Loans provided by IFC, a member of the World Bank Group, helped its client banks extend financing to smaller businesses in Eastern Europe and Central Asia by more than a third in 2014.

IFC investees provided more than 5.7 million loans to micro, small, and medium enterprises (MSMEs) last year, up from 4.39 million in 2013. These smaller businesses are the primary engine for job creation in developing countries, according to a 2011 World Bank Policy Research Paper.

Also in 2014, the total dollar amount of MSME loans provided by IFC investee banks increased about 12 percent. Key contributors to this increase include Transilvania Bank in Romania, Turkey’s Akbank and Seker Bank, Finka Kyrgyzstan and Kompanion, in the Kyrgyz Republic, and TBC Bank in Georgia, among many others.


About IFC
IFC, a member of the World Bank Group, is the largest global development institution focused on the private sector in emerging markets. Working with more than 2,000 businesses worldwide, we use our capital, expertise, and influence, to create opportunity where it’s needed most. In FY15, our long-term investments in developing countries rose to nearly $18 billion, helping the private sector play an essential role in the global effort to end extreme poverty and boost shared prosperity. For more information, visit www.ifc.org.

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