12 May 2010 15:04

IFC to boost investments in Belarusian economy by 22%-25% over next financial year

MINSK. May 12 (Interfax) - The International Finance Corporation (IFC) plans to invest around $100 million in the Belarusian economy during the next financial year (July 2010-July 2011), the head of the IFC's office in Belarus, Craig Bell, told Interfax.

"Total investment into Belarus' economy from the IFC could come to around $100 million in the next financial year," Bell said, adding that the IFC would investment $80 million-$82 million for the previous financial year.

Therefore, investments could increase by 22%-25% for the next financial year.

He said that $80 million-$82 million would be used including the implementation of four projects worth $50 million-$55 million, which will be realized over two months.

"We will close transactions for four projects worth a combined $50 million-$55 million over the next two months and as result, total investment provided this year will come to $80 million-$82 million," Bell said.

These projects include IFC's involvement in the capital of Belarusian banks, as well as loan programs, Bell said.