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Sarajevo, Bosnia and Herzegovina, June 16, 2013
- IFC, a member of the World Bank Group, is lending to a manufacturing company in Bosnia and Herzegovina, to support the local manufacturing sector, create jobs, and generate exports.
An IFC of loan of €8 million will enable Bekto Precisa, a local supplier of plastic and metal products for the automotive and electrical industries, to expand and become more competitive. The investment will allow the company to handle larger orders, and facilitate the partial refinancing and restructuring of its existing debt.
“With IFC as a partner, we will continue to seek the highest standards in our operations,” said Enisa Bekto, Chief Executive Officer of Bekto Precisa. “This loan strengthens our ability to expand, sharpens our competitive edge, and helps us create jobs.”
Bekto Precisa’s operations are based in Gorazde, 100 kilometers east of Sarajevo, where it employs more than 350 people. The export-oriented company offers production solutions covering design, engineering, precision tool making and molding.
“IFC is supporting leading private sector companies in Southeast Europe, such as Bekto Precisa, to boost recovery in the region,” said Guy Ellena, IFC Director for Manufacturing, Agribusiness, and Services for Europe, the Middle East and North Africa. “We hope that IFC's financing for Bekto Precisa will lead to increased productivity and higher exports from Bosnia and Herzegovina.”
Bosnia and Herzegovina became a shareholder and member of IFC in 1996, since then IFC has invested $343 million in the local economy, with particular focus on manufacturing sector and financial markets. IFC has also invested in the country’s health sector, municipal infrastructure, agribusiness, and construction sector. IFC offers advisory services that aim to improve the investment climate in Bosnia and Herzegovina, encourage the use of renewable energy, expand access to finance and attract private sector participation in the development of infrastructure projects.
About IFC
IFC, a member of the World Bank Group, is the largest global development institution focused exclusively on the private sector. We help developing countries achieve sustainable growth by financing investment, mobilizing capital in international financial markets, and providing advisory services to businesses and governments. In FY12, our investments reached an all-time high of more than $20 billion, leveraging the power of the private sector to create jobs, spark innovation, and tackle the world’s most pressing development challenges. For more information, visit
www.ifc.org
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For more information on Bekto Precisa, please visit
:
www.bekto.com
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