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Belarus : IFC doubles investment in BELARUS

August 7, 2014

A member of the World Bank Group, IFC, over the past fiscal year has doubled its investments in Belarus, facilitating foreign trade and improving access to finance for Belarusian exporters and other small and medium-sized companies.

During fiscal year 2014 ending June 30, IFC committed $158 million in Belarus from its own account, up from $80 million the previous year. Under its Global Trade Finance Program (GTFP), which was launched in Belarus in 2009, IFC committed $137 million to five Belarusian banks in 2014, broadening access to finance for companies and minimizing risks for local banks.

IFC has also provided a loan of up to $7 million to Belarusky Narodny Bank helping the bank in expanding access to finance for small and medium enterprises. It also offered debt financing of $13 million to Isobud, a leading producer of aluminum sandwich panels in Belarus, to support its expansion and modernization program, during past fiscal year.

According to press release of the IFC regional office in Ukraine and Belarus, IFC is also implementing an advisory program in Belarus, focusing on improving the country's business environment and investment climate.

IFC also continuously supported Belarusian producers' initiative to access new markets and be more competitive through enhancing their food safety practices.

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Source: TendersInfo (India)

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