IFC ready to finance Belarus projects with focus on SMEs, healthcare
<p> MINSK, Jul 31 – PrimePress. The International Finance Corporation (IFC) is ready to finance projects in Belarus to support small and medium-sized enterprises (SMEs) and the healthcare sector. Head of the IFC Office in Belarus Olga Shcherbina made a statement to this effect during an online conference on July 31. </p> <p> </p> <p> “The IFC as a development institution cannot stand aside. The first two stages of the pandemic (COVID 19 – editor’s note) have been passed - entering the pandemic and its peak. Now we are in the recovery phase, when foundations for further growth and investment development are being laid. A lot of funds has been allocated to the IFC to support businesses. In Belarus, we focus on two priorities: to support existing businesses, which has been affected by the coronavirus, primarily small and medium. In July, the Board of Directors approved a $25 million project with Priorbank (Belarusian Priorbank OJSC - editor’s note) to provide financing for small and medium-sized businesses under working capital, for refinancing or structuring, so that businesses could keep jobs," said Shcherbina. </p> <p> </p> <p> The IFC second priority in Belarus is to create a basis for further development of business projects. </p> <p> </p> <p> “For example, on July 29, the IFC Board of Directors approved a $4 billion global health program. It applies to new and existing clients. It is aimed at supporting healthcare projects related to the production of medical equipment, healthcare materials and we are ready to consider such projects to provide long-term investment financing from 7 years and above”, said Shcherbina. </p> <p> </p> <p> The IFC - a sister organization of the World Bank and member of the World Bank Group—is the largest global development institution focused exclusively on the private sector in developing countries. The total amount of IFC funding in Belarus was $760 million in 60 projects. End </p>
2020-08-01
Primepress
IFC ready to finance Belarus projects with focus on SMEs, healthcare
MINSK, Jul 31 – PrimePress. The International Finance Corporation (IFC) is ready to finance projects in Belarus to support small and medium-sized enterprises (SMEs) and the healthcare sector. Head of the IFC Office in Belarus Olga Shcherbina made a statement to this effect during an online conference on July 31.
“The IFC as a development institution cannot stand aside. The first two stages of the pandemic (COVID 19 – editor’s note) have been passed - entering the pandemic and its peak. Now we are in the recovery phase, when foundations for further growth and investment development are being laid. A lot of funds has been allocated to the IFC to support businesses. In Belarus, we focus on two priorities: to support existing businesses, which has been affected by the coronavirus, primarily small and medium. In July, the Board of Directors approved a $25 million project with Priorbank (Belarusian Priorbank OJSC - editor’s note) to provide financing for small and medium-sized businesses under working capital, for refinancing or structuring, so that businesses could keep jobs," said Shcherbina.
The IFC second priority in Belarus is to create a basis for further development of business projects.
“For example, on July 29, the IFC Board of Directors approved a $4 billion global health program. It applies to new and existing clients. It is aimed at supporting healthcare projects related to the production of medical equipment, healthcare materials and we are ready to consider such projects to provide long-term investment financing from 7 years and above”, said Shcherbina.
The IFC - a sister organization of the World Bank and member of the World Bank Group—is the largest global development institution focused exclusively on the private sector in developing countries. The total amount of IFC funding in Belarus was $760 million in 60 projects. End