Baku, Azerbaijan, Sept. 20
Trend:
The International Finance Corporation (IFC) has invested $111.5 million in projects in Kazakhstan in the fiscal year 2018, which ended June 30, the IFC said in a statement.
In the fiscal year 2018, which ended on June 30, the IFC has invested $2.26 billion of its own funds and has mobilized another $0.68 billion from other investors.
The investments have been aimed at helping the financial sector of the region to develop funding of small- and medium-sized enterprises, to support women's business, to enhance agribusiness and to improve urban infrastructure.
The IFC has also supported in the region the international trade transactions worth $1.8 billion through 28 partner banks participating in the trade finance program.
The largest volume of IFC investments in the past financial year has been channeled to Turkey ($1.1 billion), Romania ($336.4 million), Serbia ($190.5 million), Ukraine ($129.1 million) and Kazakhstan ($111.5 million).
The financing of renewable energy production at wind farms in Serbia in the amount of €108 million, the financing of the agricultural sector of Ukraine in the total amount of $120 million, and the funds in the amount of $75 million invested in the project for support of women entrepreneurs in Turkey are among the most significant deals.
In the next fiscal year, the IFC will continue to focus on projects with a high positive impact on development, in particular, aimed at minimizing the effects of climate change, expanding access to finance and creating jobs.
The current rate on September 20 is 369.36 KZT / USD.