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.
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.