Istanbul, Turkey, October 5, 2015
—Energy and infrastructure projects financed by IFC, a member of the World Bank Group, helped our Europe and Central Asia clients increase regional power generation capacity by more than five gigawatts and deliver power to nearly three million people in 2014.
In 2013, IFC clients delivered power to some 900,000 people in the region. Last year, that number leaped to more than 2.9 million.
The primary contributors to these results were:
Enerjisa Enerji Uretim A.S., a Turkish firm for which IFC arranged $1.7 billion in financing and debt packages to support the construction of two large natural gas-fired thermal power plants capable of producing up to five gigawatts of power;
SunEdison, which built a 60-megawatt solar power plant in Karadzhalovo, Bulgaria, thanks to IFC’s €46.1 million loan and €41.1 million mobilized from UniCredit; and
A local subsidiary of ACCIONA Energia, part of the Spain-based ACCIONA Group, which built the 30-megawatt Jelinak wind farm in Croatia, backed by €38.8 million arranged by IFC. IFC has backed three wind farms in Croatia, boosting the country’s renewable energy production capacity by nearly 50 percent (adding 108 megawatts) to reduce import dependence and help meet European Union targets.
In line with its priority to address climate change, in fiscal 2015 IFC arranged close to one billion dollars’ of climate-smart investments in Europe and Central Asia, including $543 million of its own funds and another $429 million from other investors. These projects are expected to help avoid 0.78 million metric tons of CO2 emissions each year, the equivalent of taking 164,000 cars off the road, while cutting air pollution and associated health risks.
IFC, a member of the World Bank Group, is the largest global development institution focused on the private sector in emerging markets. Working with more than 2,000 businesses worldwide, we use our capital, expertise, and influence, to create opportunity where it’s needed most. In FY15, our long-term investments in developing countries rose to nearly $18 billion, helping the private sector play an essential role in the global effort to end extreme poverty and boost shared prosperity. For more information, visit