PROJECT

Projects

Summary of Advisory Services Project Information

Project Number

537489

Primary Business Area

Corporate Advice

Disclosure Date

Oct 27, 2009

Country

Russian Federation

Region

Europe

IFC Approval Date

Jun 21, 2005

Status

Completed

Estimated Total Budget

$3,343,268.00
(Project budget includes all project-funded activities)

Last Updated Date

Nov 30, 2016

Project Estimated Start Date

Mar 1, 2002

Project Description

The project assists with business development in Magadan, a far northeastern region of Russia that is heavily dependent on mining to drive its economy. The overall objective is to improve the environment for private sector development by extending the impact of the Canadian/IFC investment in the mining industry of Magadan Oblast. Specific objectives include: 1) increasing access to markets for small and medium enterprises (SMEs); 2) raising the level of local management skills; 3) improving access to financing for SMEs; 4) reducing administrative barriers and improving the legislative base for business development; and 5) educating and informing the public regarding the importance of the private sector.