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
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
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: