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IFC to Invest up to $800mn in Russia
International Finance Corporation (IFC) may invest between $500 million and $800 million in the projects implemented in Russia in the following 12 months, said IFC Vice President Jyrki Koskelo.
According to Koskelo, IFC’s fiscal year begins July 1 and the investments may range from $500 million to $800 million during a year. IFC injected in Russia’s projects roughly $800 million of its own funds in the recent 12 months, the official reminded.
The World Bank division, IFC invested $8.2 billion in 2007 fiscal year and raised additional $3.9 billion as the syndicated loans and structural financing for 299 projects in 69 states of transitional and developing economies.
Russia became IFC’s member and holder in 1993. Since that time, the corporation has injected over $3.6 billion, including roughly $527 million as syndicated loans, into more than 150 projects of different industries of economy. IFC’s investment portfolio in Russia equals $2.24 billion, which makes the country the leader in global investments of the corporation.
In Russia, IFC invests in the banking sector, leasing, mortgage, infrastructure, mining, food, pulp and paper industry, oil and gas industry, construction materials, telecom, IT, retail and public health.
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