OREANDA-NEWS. August 28, 2007. The International Finance Corporation /IFC/ will invest $110 million in Belarus’ economic sector, representative of the World Bank’s Mission in Belarus Bell Craig told a press conference in Minsk, reported the press-centre of Gomelinvest.

“$110 million is the volume of investments, which the IFC has already allocated for Belarus. About 50% of the sum will be injected in the real sector of economy. This year the IFC jointly with Detroit Investments Co. will funnel $20 million into the juice production in the town of Bobruisk. The IFC has already invested $12 million into the modernization of the brewery Syabar.

The International Finance Corporation has already been investing in the development of the Belarusian financial sphere, construction, material and technical basis and logistical schemes, said Bell Craig. “At present we cannot inform you about all our clients in the Republic of Belarus while the whole funds are not distributed yet,” the World Bank representative underlined. The IFC will take part in the project on promoting micro-crediting in the Republic of Belarus. The corporation has allocated ?11,6 million for this purpose.

To date the IFC has given $1,3 billion worth of loans to 120 companies worldwide, Bell Craig noted.

The International Finance Corporation is an investment division of the World Bank Group. It is the biggest investor in the developing countries. Belarus became an IFC shareholder in 1992.