For the International Finance Corporation (IFC), a member of the World Bank Group, this fiscal year was a record, and total investments increased by 30 percent to 43 billion USD, IFC announced.
The IFC, which published its annual report, said that it was the largest volume in its 60 years of existence.
“In conditions of unprecedented global crises, this fiscal year – between July last year and June this year, was a record for IFC, the largest global development institution focused on the private sector in developing countries,” the statement said.
In Europe, IFC is said to have delivered a record program, supporting innovation in the green transition, to support global public goods, strengthen capital markets and their resilience, and increase responsiveness to private sector recovery needs in Ukraine.
IFC, as they said, invested 3.8 billion USD in Europe last year.
“This amount includes USD 800 million for innovative financial solutions – with a focus on micro, small and medium-sized enterprises, USD 300 million for decarbonizing production and improving food security, USD 100 million for infrastructure and social services, USD 80 million for supporting startups and businesses relying on technology,” said IFC.
As announced, IFC has invested in e-waste recycling and the value chain of electric vehicle batteries in Poland, developing an electric vehicle battery factory in Serbia.
“They supported the first large-scale solar power plant in Albania and strengthened the position of green bonds for renewable energy sources in Georgia and Poland,” the statement said.
