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Kiev, Ukraine, July 7, 2011
—IFC, a member of the World Bank Group, signed an agreement with the Ukrainian State Agency for Energy Efficiency to promote more efficient use of energy and other resources in the country’s agribusiness sector, enhancing its competitiveness and helping protect the environment.
The IFC Cleaner Production Program in Ukraine and the Agency will launch an awareness campaign and create a knowledge-sharing platform for entrepreneurs to promote best practices in resource management and use of renewable energy in the agribusiness sector.
“Improvements in energy efficiency and use of renewable energy are key to modernizing Ukraine’s economy,” said Mykola Pashkevych, head of the Ukrainian State Agency for Energy Efficiency. “The Agency is responsible for implementing government policy in the sector, and our task is to drive positive changes and serve as the main information exchange point for all market players. We hope that IFC’s global expertise will help us to do this more quickly and efficiently.”
Elena Voloshina, IFC’s Head of Operations in Ukraine, said, “Development of Ukraine’s agribusiness sector is a key part of IFC’s regional strategy because of its high potential for growth, employment, investment and exports. We have already invested nearly $500 million in the agribusiness sector in Ukraine and are committed to continuing our support.”
In agribusiness IFC supports the entire value chain from farm production to collection, processing and distribution. The five-year IFC Cleaner Production Program was launched in Ukraine in 2010 and is a part of a larger regional initiative aimed at improving resource efficiency in Europe and Central Asia. The program is being implemented in Ukraine in partnership with the Agency for International Business and Cooperation of the Netherlands Ministry of Economic Affairs, Finland’s Ministry of Foreign Affairs, and Germany’s Free State of Saxony.
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
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