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
Lithuania became a member and shareholder of IFC in 1993, and since then IFC has invested $66 million in five projects in the food processing, textile, finance, construction materials, and electronics industries.
IFC’s role in Lithuania 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.