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IFC Study to Help Chemical Plants in Europe and Central Asia Improve Efficiency
Moscow, Russia, May 15, 2012
—IFC, member of the World Bank Group, launched a first of its kind benchmarking study of the chemicals and fertilizer production industry to help local firms in Europe and Central Asia identify areas for resource efficiency improvements and become more competitive.
IFC is conducting in-depth analyses of select companies in Kazakhstan, Russia, Turkey, Ukraine and the Western Balkans to help them improve operations and save costs through resource efficiency management. IFC will also conduct a sector wide assessment of the nitrogen chemicals and fertilizer production industry in the region, benchmarking the sector against Western Europe.
Manufactured fertilizer is involved in the food production for nearly half the world’s population, and nitrogen fertilizer production consumes around 1.2 percent of the world’s total energy.
“The chemical and fertilizer industry in Europe and Central Asia is a significant generator of exports and employment,” said Viera Feckova, manager of IFC’s Resource Efficiency Program in Europe and Central Asia. “IFC is launching this study to generate more investment into resource efficiency in this industry and enable decision makers at local firms to make more informed investment choices, which will help them to compete in the international marketplace.”
The IFC study results will serve as a practical tool for corporate decision makers to benchmark their operations against a broad spectrum of competitors and help to identify areas for improvement. IFC, in partnership with the International Fertilizers Association and the European Fertilizers Manufacturers Association, intends to turn this resource efficiency benchmarking initiative into a regular global practice in the industry.
The Ministry of Finance of Austria supports IFC’s Resource Efficiency Program in Europe and Central Asia.
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, providing advisory services to businesses and governments, and mobilizing capital in the international financial markets. In fiscal 2011, amid economic uncertainty across the globe, we helped our clients create jobs, strengthen environmental performance, and contribute to their local communities—all while driving our investments to an all-time high of nearly $19 billion. For more information, visit
www.ifc.org
.
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