IFC CEO Thunell Visits Kyiv, Reiterates IFC Support for Ukraine’s Crisis Recovery
In Kyiv:
Larissa Shidlovskaya
Phone: +380 44 490 6400
E-mail: LShidlovskaya@ifc.org
In Moscow:
Ilya Sverdlov
Phone: +7495 411 75 55
E-mail: isverdlov@ifc.org
Kyiv, Ukraine, September 3, 2009—IFC
is committed to helping Ukraine minimize the impact of the economic crisis
through a combination of investment and Advisory Services, Lars Thunell,
Executive Vice President and CEO of IFC, a member of the World Bank Group,
said today.
Thunell visited Kyiv from September
1-3, meeting with Prime Minister Yulia Tymoshenko and top Ukrainian government
officials, IFC clients, and other financial institutions.
“Our goal is to help our clients weather
the crisis and support Ukraine during recovery. We expect to double our
investment program in the country during fiscal year 2010, with a focus
on the financial sector, agribusiness, and energy efficiency,” Thunell
said.
IFC’s crisis-response program in Ukraine
encompasses advisory work to help banks better manage their portfolios
and nonperforming loans and financial support to selected clients. IFC
also has expanded support for Ukrainian banks through its Global Trade
Finance Program, which has helped improve liquidity of banks and facilitate
cross-border trade flows. In addition, IFC is coordinating efforts with
the World Bank and other international financial institutions to mobilize
additional resources to support the country’s long-term economic growth.
IFC’s program in the real sector is
focused on supporting existing clients in the shorter term and helping
Ukraine maximize its potential in the agricultural sector in the longer
term. “We are looking at opportunities throughout the entire supply chain
that will have the most development impact on Ukraine’s agricultural sector,”
Thunell said.
IFC also sees great potential for Ukrainian
companies to reduce greenhouse gas emissions through greater access to
energy efficiency financing.
Since Ukraine became a member of IFC
in 1993, IFC has committed close to $1.2 billion in 48 projects, covering
such sectors as agribusiness, construction materials, energy, financial
markets, retail, and services. Today, IFC’s Ukraine portfolio represents
its 12th-largest exposure in the world. IFC also implements
Advisory Services projects in the financial sector, agribusiness, and regulatory
simplification.
About IFC
IFC, a member of the World Bank Group creates opportunity for people to
escape poverty and improve their lives. We foster sustainable economic
growth in developing countries by supporting private sector development,
mobilizing private capital, and providing advisory and risk mitigation
services to businesses and governments. Our new investments totaled $15
billion in fiscal 2009, helping channel capital into developing countries
during the financial crisis. For more information, visit www.ifc.org.
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