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
Hungary joined IFC in 1985. Since then, IFC has invested $385 million in 28 projects in financial markets, food processing, pulp and paper, chemicals, and auto manufacturing. IFC’s role in Hungary 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 our developmental role is crucial and for which private financing remains limited, emphasizing socially and environmentally sensitive sectors.