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IFC Investment in Trans-Oil Supports Sustainable Agribusiness in Moldova


In Istanbul:
Lotte Pang
Phone: +90 533 926 6780
E-mail: LPang@ifc.org

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 Moldovan economy.”

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.

About IFC

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, visit http://www.transoilcorp.com

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