Press Releases

IFC EXECUTIVE VICE PRESIDENT VISITS ISRAEL OCTOBER 26-28, 1997 -Strengthening Partnerships with the Private Sector-

L. Joseph
Phone: (202) 473-7700
Fax: (202) 676-0365

JERUSALEM, Oct. 22—Mr. Jannik Lindbaek, Executive Vice President of the International Finance Corporation (IFC) will lead a delegation to Israel from October 26-28, 1997, at the invitation of Mr. Jacob Frenkel, Governor of the Bank of Israel.
The purpose of the visit is to consult with government and industry leaders on enhancing World Bank Group cooperation with Israel, strengthening IFC's partnerships with the private sector, and working together with Israeli businesses and financial institutions to promote investment and development in emerging economies.
"The expertise developed by Israeli companies in a number of key sectors such as agriculture, irrigation and water supply, telecommunications, power generation, and chemicals and petrochemicals, is an important potential resource for IFC as it works to promote private sector development," said Mr. Nissim Ezekiel, Director of IFC's Corporate Planning and Financial Policy Department.
Mr. Lindbaek will be particularly focusing on the experience of Israeli companies and banks in investing in and providing funding to projects in Sub-Saharan Africa, Eastern Europe and Russia and the other CIS countries--and on the role that the Corporation can play in supporting these efforts.
On behalf of the World Bank Group, Mr. Lindbaek will sign a Memorandum of Understanding with the Manufacturers' Association of Israel and the Israel Export Institute on October 27 in Tel Aviv to strengthen cooperation with the Israeli business community. On October 28, Mr. Lindbaek will address a seminar on private sector project financing organized by the Israel Export Institute and the Bank of Israel at the Dan Hotel in Tel Aviv.

The Israeli government is a contributor to IFC's Technical Assistance Trust Funds program, one of the cornerstones of the Corporation's technical assistance effort. The trust funds finance technical assistance work by Israeli experts in IFC projects. The objective of the trust funds is to develop attractive business proposals and viable projects, create private sector opportunities and expertise among IFC-supported enterprises, and coordinate technical assistance activities focused on the development of financial and policy environments conducive to private sector investment.

Mr. Lindbaek will be accompanied by Mr. Nissim Ezekiel; Mr. Cesare Calari, Director, Sub-Saharan Africa Department; Mr. Afolabi Ojumu, Principal Investment Officer, Agribusiness Department; Ms. Maria Thomas, Special Assistant to Mr. Lindbaek; and Ms. Ludwina Joseph, Corporate Communications Officer.
IFC, a member of the World Bank Group, is the largest multilateral source of equity and loan financing for private sector projects in developing countries.

NOTE TO EDITORS: Mr. Lindbaek will be available for press interviews. Please contact Ms. Joseph Oct. 24-26 in Jerusalem at Ph: (972-2) 627-9777 Fax: (972-2) 627-9779 and Oct. 27-28 in Tel Aviv at Ph: (972-3) 520-2222 Fax: (972-3) 527-2711.