537783 - Private Enterprise Partnership

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Summary of Proposed Investment

Project Number

537783

Company Name

INTERNATIONAL FINANCE CORPORATION

Date SPI Disclosed

Jun 22, 2005

Country

Eastern Europe Subregion

Industry

Infrastructure

Projected Board Date

Jul 26, 2005

Status

Pending Approval

Sector

Other

Department

Central and Eastern Europe

Environmental Category

Other

Project Description

The IFC Private Enterprise Partnership (PEP) is the technical assistance (TA) facility for the former Soviet Union, specifically covering the countries of Armenia, Azerbaijan Belarus, Georgia, Kazakhstan, Kyrgyz Republic, Moldova, Mongolia, Russia, Tajikistan, Turkmenistan, Ukraine and Uzbekistan. The creation of PEP was initially approved by the Board in May 2000 for a three year period (IFC/R2000-75 dated May 8, 2000) and extended in September 2002 (IFC/R2002-0191) for a further 3 years (FY04-FY06). This project represents an extension of the program for an additional five years (FY07-FY11), commencing July 1, 2006.

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Development Impact

The mission of PEP is aligned with the mission of IFC and with the World Bank Group''s private sector development strategy to extend the reach of markets. PEP''s objectives are to:

- Promote private sector investment
- Support the creation and growth of the private sector, especially SMEs
- Improve the business enabling environment.

All PEP projects meet at least one, and usually two or three of the above objectives. Since its launch in FY01, PEP has consistently delivered results for IFC which support the IFC mission to promote sustainable investment in developing economies. Tracking these results effectively has been possible due to the state-of-the art impact assessment system introduced by PEP in its first cycle. Thanks to PEP projects, since PEP inception and through December 2004:

$493 million in foreign and local investments have been enabled in the region, including over $100 million by IFC;
Almost 15,000 clients, which include the entire range of entrepreneurs, small companies, large companies and farmers, have been reached with various technical assistance activities. An additional 440 clients received in-depth consultations over a significant period of time;
105 new legislative acts and amendments to existing legislative acts were passed directly due to PEP efforts to improve the regional business climate.

In the proposed next phase, PEP will continue to design and implement projects in line with its mission and across its established lines of business: Financial Markets, Corporate Governance, SME Policy, Agribusiness and Linkages. In response to regional demand, PEP will also develop new TA programs in areas such as Energy Efficiency, Environmental Management and Municipal Finance.

Contacts

For Inquiries About the Project, Contact

Christian Grossmann, DirectorIFC Private Enterprise Partnership
Bolshaya Molchanovka 36, bldg 1
Moscow, Russia 121069
+7 095 411 7555

This Summary of Project Information (SPI) is prepared and distributed to the public in advance of the IFC Board of Directors' consideration of the proposed transaction. Its purpose is to enhance the transparency of IFC's activities, and this document should not be construed as presuming the outcome of the Board decision. Board dates are estimates only. The following SPI is disclosed in accordance with IFC's Disclosure of Information Policy that went into effect September 1998.

The map is for illustrative purposes and does not imply the expression of any opinion on the part of the World Bank, concerning the legal status of any country or territory or concerning the delimitation of frontiers or boundaries. Country borders or names do not necessarily reflect the World Bank Group's official position. In some cases, available project location information is limited to the country of the project's activities. Locations are approximate.

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