IFC Supports Development of International Standard Logistics Center in Russia

In Moscow: 
Nezhdana Bukova 
Phone: +7 985 411 3986 
E-mail: nbukova@ifc.org 

In Washington, D.C.: 
Zibusiso Sibanda 
Tel: (202) 473-0605 
E-mail: ZSibanda@ifc.org




Moscow, Russia, October 14, 2009—IFC, a member of the World Bank Group, is 
providing ZAO Kulon-Yugros with €9.9 million in debt financing to build and 
operate the first international-quality logistics warehouse and office facility 
in Russia’s Stavropol region that will help create jobs.  

The project addresses the undersupply of quality logistics warehousing 
facilities in Mineralnye Vody in the Stavropol region of Russia. Operating at 
high environmental and social standards, the new logistics center will improve 
competitiveness and efficiency of the manufacturers and distributors using the 
facility and generate new employment opportunities. The project is being 
managed by the Espro Group. 

“We are grateful for IFC for its long-term financial support and valuable 
advice in environmental and social aspects of warehousing business,” said 
Michail Zagoskin, General Director of ZAO Kulon-Yugros.  “The Stavropol region 
lacks high-quality warehouses and logistics centers and we see great potential 
for our business in the region.”  

“Infrastructure development is one of our key priorities in Russia,” said 
Snezana Stoiljkovic, IFC Director for Central and Eastern Europe. “We are 
pleased to support this much-needed warehousing project being implemented by 
Kulon-Yugros in Russia’s Stavropol region, and look forward to continuing our 
fruitful cooperation as the company expands further.”  

The project is cofinanced by the Black Sea Trade and Development Bank. This is 
the second IFC’s investment in a project managed by the Espro Group. 

Over the past 15 years, IFC’s investment in Russia has totaled $4.5 billion, 
including $1.1 billion in syndicated loans, in 190 projects across a variety of 
sectors. IFC’s committed investment portfolio in Russia is around $2.24 
billion, which makes it the third-largest country exposure for IFC globally.  

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 Espro Group 
Espro Group has been operating in the real estate market since 1996 focusing on 
the development, management and maintenance of class “A” office and warehouse 
complexes. 
The most well-known customer of Espro Group is Kulon Company. Espro Group 
clients in management and technical maintenance of the objects are such 
significant investors as Raven Russia, Aton, the biggest Russian bank Sberbank 
and others. For further information, please visit www.espro.ru.