The International Finance Corporation (IFC) has invested nearly $340 million in different sectors of the Belarusian economy, Head of the IFC Office in Belarus Max Yacoub told BelTA.

Belarus became the IFC member in 1992. Today the Corporation focuses its efforts on improving the business environment and investment climate in Belarus, enhancing the competitive ability of the private sector. “Support of private export-oriented companies is a priority for us in Belarus. As of today the IFC has invested almost $340 million in various Belarusian economic projects,” Max Yacoub said. He expressed hope that the investment law which might be approved in Belarus in autumn already would become a good signal for international investors.

The International Finance Corporation also supports private companies-exporters in Belarus as part of the Global Trade Finance Program, Max Yacoub added. Five Belarusian banks are participants of the program.

The International Finance Corporation which makes part of the World Bank is the world’s largest institute of development focusing its interests on private business in the developing and transition economies. The IFC provides financing to private companies, assists in creating jobs and mobilizing capital, provides consultation and risk management services. In 2012 the IFC investment volume has hit the record $20 billion.

Belta