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IFC Launches Program to Help Improve Russia’s Environmental Performance


In Moscow:
Nezhdana Bukova
Phone: +7 (495) 411 7555 (ext. 2026)
E-mail:
Nbukova@ifc.org


Moscow, Russia, February 18, 2009—IFC, a member of the World Bank Group, is launching a five-year program that will facilitate $250 million in investments for cleaner production and resource-efficient modernization of Russian industrial and municipal enterprises, helping improve the country’s economic and environmental performance.

The Russia Cleaner Production Program will provide financing for cleaner production investments of midsize agribusiness, chemical, forestry, and machine-building enterprises, as well as support municipal water and energy efficiency programs. To help raise awareness of cleaner production technologies and management techniques, the program will also implement an extensive information campaign and provide in-depth advisory support to selected partner companies.

“In times of crises, when companies lack access to affordable financing and are under pressure to lower operational costs, implementing cleaner production strategies will provide environmental and financial benefits,” said Yana Gorbatenko, Manager of the Russia Cleaner Production Program. “It helps companies reduce pollution, increase profitability, and improve their product quality and operational performance.”

The program is supported with funds from IFC, Germany’s Free State of Saxony, Ministry of Employment and the Economy of Finland, and the Agency for International Business and Cooperation of the Dutch Ministry of Economic Affairs.

About IFC
IFC, a member of the World Bank Group, creates opportunity for people to escape poverty and improve their lives. We foster sustainable economic growth in developing countries by supporting private sector development, mobilizing private capital, and providing advisory and risk mitigation services to businesses and governments. Our new investments totaled $16.2 billion in fiscal 2008, a 34 percent increase over the previous year. For more information, visit www.ifc.org.