February 2010 -- The Europe and Central Asia region has been hit hard by the crisis, with private capital flows dwindling to $30 billion in 2009 compared to $258 billion in 2008. Tighter credit and tough economic conditions have put companies under
Estonia joined IFC in 1993. Since then, IFC has invested nearly $105 million in 18 projects from its own account and $12 million in syndications from other banks. We have invested in many key sectors, including textiles, pulp and paper, construction materials, electronics, tourism, and transport.
IFC’s role in Estonia is changing in light of the country’s accession to the European Union and the growing availability of private financing. IFC will focus on the regions, sectors, and projects where IFC’s developmental role is crucial and for which private financing remains limited, emphasizing socially and environmentally sensitive sectors.