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IFC invests $3 billion in projects

Business Materials 4 August 2010 12:35 (UTC +04:00)

Azerbaijan, Baku, August 4 / Trend N. Ismayilova /

The International Finance Corporation (IFC) is a member of the World Bank Group. It has invested $3 billion in 105 projects in Europe and Central Asia in fiscal 2010. It ensured the necessary support to regions severely affected by global economic crisis, the IFC said.

More than a half of new IFC investments for the fiscal year ended June 30, 2010. They focused on regional banks to ensure access to finance companies and private clients. Approximately a half of these funds was invested in the regions and countries with a low income.

The IFC programs against the crisis made considerable progress. More than $ 560 million was invested in support for the companies importing and exporting through the Global Trade Liquidity Program and the Global Trade Finance Program, and more than $120 million in the work with hard debts and assets through the Debt and Asset Recovery Program.

Investments in non-financial sector amounted to $759 million, including $208 million in agricultural business and $61 million in the health and education projects.

The IFC's investments were directed to support priority areas, including combating climate change. About $527 million were invested in more than 20 projects aimed at improving energy efficiency, renewable energy development and implementation of clean production, less developed regions with average income. About $ 807 were invested in infrastructure. About $ 646 million were invested, of which 63 percent - in regions and countries with low income and 30 percent - with to combat climate change.

Investments between the developing markets reached $ 225 million in seven projects.

About $861 million was invested in micro, small and medium-sized enterprises. About 25 percent of the projects were targeted on this sector. About $ 400 million was invested in Central Asia and Azerbaijan. About $848 million was invested Southern Europe, including such major deals as Gorenje, Slovenia and Akenerji in Turkey.

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