The mission of the International Finance Corporation (IFC) is to promote sustainable private sector investment in developing countries thereby reducing poverty and improving people's lives.
International Finance Corporation (IFC), a member of the World Bank Group, fosters sustainable economic growth in developing countries by financing private sector investment, mobilizing capital in the international financial markets, and providing advisory services to businesses and governments. IFC’s vision is that poor people have the opportunity to escape poverty and improve their lives. In fiscal 2011 IFC invested nearly $19 billion in 521 projects in 103 countries.
In November 1992, Belarus became the first of the newly independent states to join IFC and thus gained access to IFC funds and expertise in private business development. Deputy Prime Minister of Belarus Sergey Rumas is presently IFC Governor and Minister of Finance Andrey Kharkovets acts as his alternate.
At the invitation of the Government of Belarus, IFC has been actively involved in advisory work in Belarus since 1993, and has implemented a range of advisory services activities. Work began with advisory services for privatization of small businesses. Currently, IFC focuses its efforts on improvement of the business environment and investment climate, and increasing the competitiveness of Belarusian food processing enterprises by improving their food safety practices. These activities are financed by the United States Agency for International Development (USAID), the Swedish International Development Cooperation Agency (Sida), and the Austrian Ministry of Finance.
Along with its advisory services programs, IFC is also pursuing investment activities in Belarus. As of June 30, 2011 IFC has invested $316 million in the financial, general manufacturing, agribusiness, and services sectors.
IFC Advisory Services in Belarus
 Small-Scale Privatization (May 1993 - June 2000)
Condominium Project (August 1994 - June 2000)
Post Privatization Project (December 1995 - July 1999)
Small and Medium Enterprise Development (July 2000 -September 2002)
Business Associations Capacity Building Project (October 2002 –September 2004) |
