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IFC has allocated Georgia $ 93 million2012-07-17 14:13
The International Finance Corporation (IFC), member of the World Bank Group, has allocated Georgia up to $ 93 million during the past fiscal year, expired on June 30, 2012, the RBC reported. Another $ 25 million, the IFC has mobilized from other creditors.gt-en-newsitem-inside
According to the IFC Tbilisi office, the Corporation intends to continue financing Georgian commercial banks, in particular, TBC Bank, Bank Respublika and the Bank of Georgia to promote international trade and finance international trade transactions of local companies.
According to the Business Georgia, during 2012, the International Finance Corporation has invested $ 4.2 billion to promote private sector development in Europe and Central Asia. In particular, the above sum was invested in 114 projects related to banks advisers, risk management and bad assets. IFC has implemented 55% of the projects signed in Europe and Central Asia. Despite the difficulties existing in the financial markets of Europe, which affects most of the region and limits the amount of loans and investments, $ 1.3 billion of funding was mobilized by the IFC from the international financial institutions and commercial banks.
Georgia became IFC member in 1995. IFC has invested in 40 projects in various sectors in amount of nearly $ 605 million.