To introduce innovative products in the local financial market, in 2001 IFC sponsored a seminar on asset securitization. The seminar led to the establishment of a working group, consisting of the representatives of the government and the private sector. The group worked to identify and resolve issues related to the introduction of new financial products, particularly issues concerning taxation and the legal and regulatory framework.
In 1991, the Foreign Investment Advisory Service (FIAS), a joint facility of IFC and the World Bank, advised the Government of Czechoslovakia on attracting foreign direct investment. FIAS provided similar services to the Czech Republic in 1999. In 2000, FIAS completed a program to promote links between foreign direct investors and domestic firms.
IFC actively supported the government and private businesses through numerous advisory programs. The latest advisory services initiatives included support for the restructuring of a newly privatized textile company (funded by the UK) and advisory support to a government agency on restructuring selected companies to make them more attractive for investors (funded by Austria and the Netherlands).
