IFC-Bank invests in the economy of Yakutia

11 July

OJSC JSCB International Financial Club is opening credit lines to a number of entities in the energy sector, housing and communal services, airline industry and trade, as well as companies engaged in diamond cutting and jewelry manufacturing in the Republic of Sakha (Yakutia).

In June and July 2011 with support from local authorities of the Republic of Sakha (Yakutia), IFC Bank entered a number of funding agreements with major companies from various sectors of the regional economy, for a total amount of 645 million RUR.
Today, the Republic of Sakha (Yakutia) is a fast-growing, rapidly developing and promising region. Core industries of the Republic’s economy are being modernized, while new sectors are actively developing, and contributing to its general diversification. At such time, quality banking services are particularly tight, and we are happy to contribute to the development of the region. Today, the Bank’s loan portfolio in the Republic of Sakha (Yakutia) amounts to 645 million RUR. In the short term, it is expected to increase to RUR 1.1 billion, while the total scope of the planned investments into the Republic’s development will amount to about USD 100 m, — noted Vyacheslav Shabaikin, First Deputy Chairperson of the IFC Executive Board.