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CURRENT PROJECTS CURRENT PROJECTS Russia Cleaner Production Program http://www.ifc.org/rcpp 2008 – present Supported with funds from the Free State of Saxony (Germany), the Netherlands’ Agency for International Business and Cooperation (Dutch Ministry of Economic Affairs) , the Ministry of Employment and the Economy of Finland, and IFC FMTAAS The Russia Cleaner Production Program (RCPP) is designed to stimulate investment in cleaner production projects and promote cleaner production best practices and policies in Russia. The program helps to advance the economic and environmental performance of Russian industry. Enterprises will improve resource efficiency and lower costs, thus enhancing their profitability. By implementing cleaner production technologies and best practices, they will also reduce wastage, prevent pollution and help offset climate change.  More...Russia Banking Advisory Project http://www.ifc.org/rbap 2007 – present Supported with funds from the Ministry for Foreign Affairs of Finland, and the Ministry of Economic Affairs of the Netherlands The project works with medium-sized Russian banks to improve their internal control and risk management systems, reflecting the rapid development of the banking sector in terms of volume and complexity of business.The project will also conduct a series of public seminars on risk management and controls and disseminate information for the banking sector to increase its overall reach and impact. The project will leverage the work, visibility and resources of the Russia Banking Corporate Governance Project (2004-2007), funded by the Swiss State Secretariat for Economic Affairs of Switzerland (SECO). More...Russia Primary Mortgage Market Development Project www.ifc.org/russia_mortgage 2005 – present Supported with funds from the Government of the Netherlands, the State Secretariat for Economic Affairs of Switzerland (SECO), and IFC The project aims to develop and strengthen the primary mortgage market in Russia in such a way as to enable expansion of the secondary mortgage market, thereby deepening and broadening Russia’s financial markets. The project focuses on three objectives: improving the legislative environment, building the mortgage industry and developing the capacity of partner banks, and increasing outreach to potential borrowers.  More...
Russia, with a population of over 140 million, has the largest potential mortgage market in Europe. Yet currently, the market is nowhere near this potential, standing at less than 2% of GDP. Despite strong housing demand and skyrocketing prices, the development of mortgage lending in Russia is hampered by imperfect legislation, lack of unified market standards, and a low level of public awareness about the benefits of mortgages. The IFC Approach The project established a working group (“SUPER”) that brings together all key market players in mortgage lending in Russia — 80 organizations including major lenders with an aggregate loan portfolio of over $5 billion, international rating agencies, insurance companies, tax and accounting firms, and other industry stakeholders. The working group allows stakeholders to develop common solutions to the sector’s key problems, such as standard tools for use by the Russian residential mortgage lending industry. The project also works with partner banks to help them enhance their mortgage lending procedures, and conducts media training courses to educate the media on mortgage related issues and ensure that the topic is professionally covered. Achievements to Date as of July 1, 2008 Russia Sustainable Energy Finance Program www.ifc.org/russia/energyefficiency 2005 - present Supported with funds from Denmark’s Environmental Protection Agency, the Ministry for Foreign Affairs of Finland and the Ministry of Trade and Industry, the Free State of Saxony, the World Bank’s Global Environment Facility, and IFC’s Sustainable Financial Markets Facility The component of the project based in the Volga region is supported by the Free State of Saxony The Russia Sustainable Energy Finance Program works across Russia to encourage investments in energy efficiency projects. The project helps financial institutions and companies to assess modernization projects, and provides long-term credit to banks to enable energy efficiency loans. By participating in public information campaigns, the project also works to raise general awareness about the need for greater energy efficiency in Russia. More...A Chance to Work http://www.achancetowork.org/ 2003- present Supported with funds from the Ministry of Foreign Affairs of Finland and IFC “A Chance to Work” is an international program that gives disadvantaged people an opportunity to improve their lives in the communities where IFC and its private sector partners operate. The program provides six months of paid work and on-the-job training in skills the private sector demands, after which participants enter the job market. Program’s success in Washington, DC, promoted its further development over the world – program started in Russia, Peru and Egypt. For the time being the “A Chance to Work” has helped hundreds of people to become the equal part of the community and get stable in life. The project helps orphanage graduates to obtain self-sufficiency, to adapt to the present-day life; works to ameliorate certain stereotypes surrounding orphans, reduce the social tension in Russia, and to promote corporate social responsibility of Russian business society. IFC has established a coordination office in order to implement and develop sustainable model of the ACW program, for its further expansion into the regions of the Russian Federation. Since 2003 the program successfully operates in Moscow, in 2007 the program started its activity in Nizhniy Tagil (the Urals), and is currently expanding to Petrozavodsk and St. Petersburg. Russia Far East Business Development Project 2002 - present Supported with funds from the Canadian International Development Agency (CIDA) The project works to extend the developmental impact of a joint IFC/Canadian investment to the local community of the Russia’s far Northeast (Magadan region). The project helps small and medium-sized companies (SMEs) to overcome basic but critical barriers to their development, including weak business management skills, limited access to market information, poor access to financing, and lack of customer focus. More... | SITE TOOLS  
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