International Finance Corporation to develop new projects in Moldova

The International Finance Corporation, member of the World Bank Group, will fund a series of new projects in Moldova this year, according to the Head of the IFC Mission in Moldova and Romania Ana Maria Mihaescu, Info-Prim Neo reports. IFC is interested to support private companies in Moldova to enhance their economic efficiency, their role on the domestic market and expansion to regional markets. IFC will continue its partnership with commercial banks. A month ago, IFC organized a 2-day seminar on evaluating and diminishing credit risks in crisis-stricken economies. The credit programs in domestic banks will be continued as well, but it will focus on different goals, such as stimulating energy efficiency projects. “Another set of goals is the social one. In collaboration with the International Bank for Reconstruction and Development, last year we evaluated the impact of private services in healthcare. Besides, this week we’ll sign the first letter-mandate to implement a set of public-private partnerships (PPPs) in healthcare” Ana Maria Mihaescu stated. IFC is considering some infrastructure projects as well, mainly private projects of improving the infrastructure. IFC is also willing to fund local public administrations’ projects. “We estimate the value of IFC-supported projects in Moldova this year to be around $45-60 million”, the head of IFC Mission in Moldova and Romania added. IFC has been present in Moldova since 1995. The overall values of financing is estimated at 135 million $, invested in 23 projects either funded directly or through participations. IFC is mostly known in Moldova for financing projects implemented by companies like Union Fenosa, Orange, Purcari and credit lines for small and medium businesses at ProCredit.