IFC Partners with Raiffeisen Banks to Bolster Trade Finance in Eastern Europe

In Washington, D.C: 
Aliza Marcus                                                 
Phone: (202) 473 8168 
E-mail: AMarcus@ifc.org 

In Moscow: 
Nezhdana Bukova  
Phone: +7 (495) 411 7555 
E-mail: NBukova@ifc.org 




Washington, D.C., October 15, 2009—IFC, a member of the World Bank Group, is 
partnering with Raiffeisen International Bank-Holding AG to expand access to 
trade finance through its network banks in Russia, the Czech Republic and 
Bosnia and Herzegovina, helping support trade and lessen the impact of the 
global financial crisis.  

The addition of these Raiffeisen International network banks to IFC’s Global 
Trade Finance Program is part of IFC’s broader activities under the Joint 
International Financial Institution Action Plan targeting Central and Eastern 
Europe. Launched in February 2009 by the three largest multilateral investors 
and lenders in the region—the European Bank for Reconstruction and Development, 
the  European Investment Bank Group and the World Bank Group—the action plan 
aims to help private enterprises cope with the economic crisis by supporting 
local banking systems and increasing lending to small and medium enterprises.   

“We are pleased to have three additional Raiffeisen International network banks 
join IFC’s trade finance program,” said Herbert Stepic, CEO of Raiffeisen 
International. “This will further increase our capacity to provide trade 
facilities in the region, especially to small and medium enterprises, and allow 
these three subsidiaries to gain access to the network of banks participating 
in the program.” 

Raiffeisen International’s banking subsidiaries in Belarus, Kosovo, Poland, 
Slovakia, and Ukraine already participate in IFC’s trade program. 

Jyrki Koskelo, IFC Vice President for Europe, Central Asia, Latin America and 
the Caribbean, and Global Financial Markets and Funds, said:  “Bringing 
Raiffeisen’s network banks into our trade program will help ease the crunch on 
trade financing in Central and Eastern Europe. We are pleased that our existing 
partnership with Raiffeisen is growing globally.” 

IFC’s Global Trade Finance Program supports trade in emerging markets by 
providing partial or full guarantees for individual transactions, using payment 
risk guarantees to international banks that issue financing to the local banks. 
The program helps banks boost their capacity for delivering trade finance in 
challenging markets where such financing may be limited. Since being launched 
in 2005, the program has issued $3 billion in guarantees worldwide through a 
network of more than 300 participating banks. 

About IFC 
IFC, a member of the World Bank Group, creates opportunity for people to escape 
poverty and improve their lives. We foster sustainable economic growth in 
developing countries by supporting private sector development, mobilizing 
private capital, and providing advisory and risk mitigation services to 
businesses and governments. Our new investments totaled $14.5 billion in fiscal 
2009, helping channel capital into developing countries during the financial 
crisis. For more information, visit www.ifc.org. 

About Raiffeisen International  
Raiffeisen International operates one of the largest banking networks in 
Central and Eastern Europe, covering 17 markets across the region through 
subsidiary banks, leasing companies, and other financial service providers. The 
group’s nearly 60,000 employees service about 15 million customers via more 
than 3,100 business outlets. Raiffeisen International is a fully consolidated 
subsidiary of Raiffeisen Zentralbank Österreich AG, a leading corporate and 
investment bank in Austria. For more information, visit www.ri.co.at.