Thirty-nine percent of IFC's investments with Western European companies and banks were in the world's poorest countries.
Given its mandate as part of the World Bank Group, IFC does not invest in Western Europe, but rather supports investment projects of Western European sponsors in emerging markets.
In the fiscal year ended in June 2018, we committed over $2.2 billion to projects with Western European companies and banks in developing countries. Investments covered close to 60 projects in 28 countries, including seven regional and four global projects, in areas such as infrastructure, manufacturing, and agribusiness. In addition, IFC mobilized $2.7 billion from Western European lenders to support its investments.
Business development and relationship management with companies and banks based in Western Europe and Israel that invest in emerging markets. The Western Europe offices promote business development in all sectors with companies that are headquartered in one of the 23 countries for which they have a mandate, or those that have a strong physical presence there through registration, public listing, or the location of top management. Given its mandate as part of the World Bank Group, IFC does not invest in Western Europe, but rather supports the investment projects of Western European sponsors in emerging markets.
Coordination and partnership building with the European Union (EU), international organizations, development finance institutions, business associations, governments, media, and civil society organizations.
The relationship between the EU and IFC has grown stronger in recent years. With an office in Brussels, IFC maintains an ongoing strategic dialogue with the European Commission (EC), which is also one of IFC's largest donors. IFC has a series of Memoranda of Understanding with the EC and the European Investment Bank (EIB) for collaboration in (pre-) accession countries, Eastern Europe, South Caucasus, Russia, Central Asia, and the Middle East and North Africa. We also maintain an ongoing strategic dialogue with the European Parliament.
Over the past few years, IFC has also cemented its partnerships with many Western-European based Development Finance Institutions, International Financial Institutions, Export-Credit Agencies, and Development Partners.