IFC pledges to double investments in Ukraine in 2009

Interfax reported this morning that the International Finance Corporation plans to, at a minimum, double investments into Ukraine this year; last year it financed projects in Ukraine to the tune of USD 192 mln. IFC representatives in Ukraine said that among other projects, it is negotiating with three Ukrainian banks regarding investments. Andrii Parkhomenko: We met with representatives of the IFC a couple weeks ago, and from what we heard at the meeting, we expect that the organization will invest primarily into Ukraine’s financial sector (focusing on banks struggling with large amounts of non-performing loans), as well as into the consumer sector.