Chisinau, Moldova, August 1, 2012—IFC,
a member of the World Bank Group, will invest $70 million in Trans-Oil,
a leading grain trader and sunflower oil producer in Moldova, to support
the country’s agribusiness sector by helping the company expand its operations
and make them more sustainable.
With IFC’s support and long-term financing,
Trans-Oil will expand its business by acquiring a local oilseed processor
and five silos. The company will also make investments to improve its energy
efficiency and raise environmental standards.
Vincent Turrisi, General Manager of
Trans-Oil, said, “We welcome the support of IFC in developing our business.
Cooperation with IFC will help Trans-Oil become a major oilseed crushing
and trading group in the region and contribute to the development of the
Guy Ellena, IFC Director for Manufacturing,
Agribusiness, and Services in Europe, Central Asia, the Middle East and
North Africa, said, “Supporting the development of sustainable agribusiness
and increasing food production is a priority for IFC in this region. Our
investment in Trans-Oil will help a successful Moldovan company compete
regionally and create export opportunities.”
IFC has made agribusiness a global priority
and works to enhance food security, promote inclusive economic development,
and make environmental and social sustainability a business driver. In
Southern Europe, IFC supports countries such as Moldova that have the potential
to become significant producers and exporters of agricultural products.
IFC, a member of the World Bank Group,
is the largest global development institution focused exclusively on the
private sector. We help developing countries achieve sustainable growth
by financing investment, mobilizing capital in international financial
markets, and providing advisory services to businesses and governments.
In FY12, our investments reached an all-time high of more than $20 billion,
leveraging the power of the private sector to create jobs, spark innovation,
and tackle the world’s most pressing development challenges. For more
information, visit www.ifc.org.
For more information about Trans-Oil,