IFC and Estonia, Latvia, Lithuania Partners in Private Sector Development OVERVIEW IFC, a member of the World Bank Group, is the largest global development institution focused on the private sector in emerging markets. Working in more than 100 countries, IFC committed a record $43.7 billion in own-account investments and mobilization from third parties to private companies and financial institutions in developing countries in fiscal year 2023 (FY23).* IFC maintains a focused relationship with the Baltic countries, which revolves around engagement with select companies in the fintech and tech, forestry, logistics, agribusiness and retail sectors, which are interested in co-investment opportunities in emerging markets. ESTONIA LATVIA LITHUANIA As of June 2023, IFC had a long-term In February 2023, IFC, the Association of the In September 2022, IFC and MIGA held committed investment portfolio of $25 Latvian Chemical and Pharmaceutical Industry a business development event focused on million with Estonian partners in the (LAKIFA) and MIGA organized an online the Disruptive Technologies and Funds Disruptive Technologies and Funds sector. workshop on investment opportunities in the sector with the Lithuanian Innovation IFC’s main partners in the country are health sector. IFC also participated in two Agency and the Ministry of Finance. In the Ministry of Foreign Affairs and the workshops held by the Latvian Ministry of May 2021, IFC, Enterprise Lithuania and Ministry of Foreign Trade and Information Finance in support of Ukraine’s reconstruction Start-up Lithuania, in partnership with the Technology. In September 2022, IFC and in 2023, and met with companies interested Ministry of Foreign Affairs, held a virtual the Multilateral Investment Guarantee in working in Ukraine. In 2022, IFC held a roundtable on opportunities in disruptive Agency (MIGA), a member of the World business development event focused on the technologies for Lithuanian companies in Bank Group which offers political risk Disruptive Technologies and Funds sector with emerging markets. The event highlighted insurance and credit enhancement MIGA, the Latvian Chamber of Commerce investment opportunities for Lithuanian guarantees, held a business development and Industry and the Ministry of Finance; and companies in emerging markets with a event with the Estonian Business and in 2021, a roundtable with the Investment focus on Nigeria and Ghana. Innovation Agency and the Estonian and Development Agency of Latvia (LIAA) Ministry of Finance. focused on Ukraine and the Manufacturing, Agribusiness and Services sector. Example of Successful Cooperation Bolt, Estonia In March 2021, IFC committed a €20 million equity investment in Bolt Technology, a global ride-hailing company based in Estonia that offers mobility, food, and delivery services through a digital platform. IFC’s investment will help Bolt expand its mobility and delivery services in underserved urban areas in South Africa, Nigeria and Ukraine. It will create earning opportunities and improve access to safer and more accessible transportation in emerging economies, at a time when increasing digitalization and growing urbanization are transforming urban mobility and last-mile logistics. The project will benefit women, especially by tackling some of the barriers hindering their participation in the workforce. *The World Bank Group fiscal year runs from July 1 to June 30 of the following calendar year. CONTACTS FRANKFURT LONDON BRUSSELS PARIS Lucia Mitariu Bockenheimer Landstrasse 43 1 Tudor Street 17 avenue Marnix 66 avenue d’Iéna Tel: +32 2 552 00 40 60325 Frankfurt am Main 6th Floor 2nd Floor 75116 Paris, France E-mail: emitariupereirad@ifc.org EC4Y 0AH London, UK Germany 1000 Brussels, Belgium Tel: +33 1 40 69 30 60 Tel: +49 69 743 48230 Tel: +44 207 592 8400 Tel: +32 2 522 00 39 September 2023