10 April 2004 01:47
IFC to invest up to $600 mln in Russia this year
MOSCOW. March 24 (Interfax) - The International Finance Corporation (IFC) - the World Bank's investment arm -
intends to invest $500-$600 million in Russia this year, said Edward Nassim, the IFC's director for Central and
Eastern Europe.
There may be approximately 30 projects totalling $500-$600 million Nassim told an Interfax reporter.
In 2003, the IFC prioritized financial sector projects, but this year it will invest mostly in transport,
particularly rail and air transport, plus agriculture, chemicals, mining and retail, Nassim said. The IFC will continue
to invest in the financial industry, but to a lesser extent, working with provincial banks and specializing in leasing
and home-loans.
The IFC has contributed to 70 Russian projects costing more than $1.3 billion since Russia became a member in
1993.
The IFC invested $217 million in Russia in the 2002 financial year from July 1, 2001 to June 30, 2002 and $500
million in the 2003 financial year.
[Interfax] |
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