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Minsk, Belarus, October 11, 2010
—IFC, a member of the World Bank Group, is providing the Alutech Group, a leading Belarusian producer of roller shutter systems, sectional doors and other value-added aluminum products, with a €22 million long-term corporate loan to support its strategic growth, expand exports, and improve environmental and social standards.
Long-term finance from IFC will support Alutech’s investment program as the industry continues to recover from the global economic crisis.
“We are grateful for IFC’s long-term finance and look forward to benefiting from its global expertise in environmental and social issues,” said Alexei Zhukov, General Director of the Alutech Group.
Snezana Stoilikovic, IFC Director for Eastern Europe and Central Asia, said, “Alutech is an example of a project we are willing to support. It contributes to high value-added production in Belarus, and has a positive demonstration effect for improvements in transparency and business, environmental, and social practices.”
Belarus joined IFC in 1992. IFC has been actively involved in advisory services in the country since 1993, starting with the privatization of small businesses. Currently, IFC focuses its efforts on improving the country’s business environment and investment climate. From 2004 through June 2010, IFC committed about $260 million in a number of projects in Belarus.
About IFC
IFC, a member of the World Bank Group, is the largest global development institution focused on the private sector in developing countries. We create opportunity for people to escape poverty and improve their lives. We do so by providing financing to help businesses employ more people and supply essential services, by mobilizing capital from others, and by delivering advisory services to ensure sustainable development. In a time of global economic uncertainty, our new investments climbed to a record $18 billion in fiscal 2010. For more information, visit
www.ifc.org
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About Alutech Group
Alutech Group of companies is a leading Belarusian producer of value-added aluminum products, including roller shutter systems, sectional doors and aluminum profiles. Alutech comprises five manufacturing enterprises and several branches and warehouses in Belarus, Russia and Ukraine. For more information, visit
www.alutech-company.com
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