Belarus buys more IFC shares

        Belarus Finance Ministry has transferred $105,000 to the International Finance Corporation (IFC) to complete the additional subscription to 105 shares of the IFC, the Finance Minsitry reports. The IFC Board of Governors has decided to raise the registered capital of the corporation. The increase will be $130 million. Taking into account the available number of shares Belarus originally had 0.22% of the total vote. The country has been suggested to subscribe and pay for 105 supplement shares. As a result, Belarus keeps the country’s share in the total vote after all the countries have paid for additional shares.
        The International Finance Corporation, a member of the World Bank Group, is the largest global development institution, which efforts are focused solely on supporting private sector. Belarus became an IFC member in 1992. At present the IFC focuses efforts on improving the business environment and the investment climate in Belarus and raising the competitive ability of the private sector. Apart from sizeable projects in the real economy sector support for private exporters is an important part of the IFC operation in Belarus in line with the Global Trade Finance Program. Five Belarusian banks participate in the program.