The International Finance Corporation (IFC), a member of the World Bank Group, invested $ 2.9 billion in private sector development in fiscal year 2018, the highest in Turkey ($ 1.1 billion), Romania (336, $ 4 million) and Serbia ($ 190.5 million).
Some of the main investments are 108 million euros for financing to increase the production of renewable energy through wind farms in Serbia, a loan of 120 million for the agribusiness in Ukraine and an investment of $ 75 million to support entrepreneurs in Turkey, according to the announcement of these financial companies.
The IFC invested $ 2.26 billion of its assets and mobilized another $ 0.68 billion from other investors during the fiscal year 2018, which ended June 30, and investments were, as reported, aimed at helping the financial sector in the region to increase lending to small and medium-sized enterprises, to support enterprises owned by women, to develop the agricultural industry and to improve the urban infrastructure in the region.
The IFC has expanded its activities in Europe and Central Asia by making investment commitments to promote diversification of the region's economy, improve access to finance for small businesses and combat climate change, the statement said.
The IFC also supported $ 1.8 billion in cross-border trade in the region through more than 28 banks participating in the global trade finance program.
The IFC also carried out 79 advisory projects in the region aimed at improving business rules, working with the private sector to combat climate change and helping local businesses improve their corporate governance and environmental and social practices.
During the next fiscal year, IFC will continue to focus on projects that have a major impact and can help reduce climate change, promote financial inclusion and create new jobs.