IFC Investments in FYR of Macedonia (selected)

Year	Project	Project Cost* (million USD)	IFC Financing* (million USD)	Project Description
2008	ESM Macedonia	173.6	55.3	Loan to Elektropanstvo na Makedonija AD, Macedonia's single electricity distributon company, to improve the supply reliability of the distribution network and enhance the Company’s profitability
2003	MFB Macedonia	5.0	1.0	Equity to provide credit and other financial services on a commercial te rms to micro and small enterprises.
1998/99/01/02	Stopanska Banka	122.0	23.8	Privatization of the country’s largest bank, representing about 40% of the country's banking assets. IFC, together with National Bank of Greece and EBRD, will strengthen the capital base of the bank, improve corporate governance, and support a capital investment program (including modernization of computer systems, branch network upgrading, and personnel training).
1997/02	Teteks	14.2	6.8	Upgrading and modernization of technology and efficiency of a textile company. The project also entails diversification of the company's product lines to boost exports as well as improvement of environmental standards, management training, and an advisory program designed to improve product development.
2001	Komercijalna	5.0	4.3	Loan for on-lending to private small and medium enterprises for business expansion and modernization.

* Project cost and IFC financing refer to amounts approved by the IFC's Board.