Publication:
IFC and Estonia, Latvia, Lithuania, Partners in Private Sector Development

Loading...
Thumbnail Image
Files in English
English PDF (321.63 KB)
52 downloads
English Text (4.99 KB)
8 downloads
Published
2023-09-01
ISSN
Date
2024-03-20
Editor(s)
Abstract
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. As of June 2023, IFC had a long-term committed investment portfolio of twenty-five million with Estonian partners in the Disruptive Technologies and Funds sector. In February 2023, IFC, the Association of the Latvian Chemical and Pharmaceutical Industry (LAKIFA) and MIGA organized an online workshop on investment opportunities in the health sector. In September 2022, IFC and MIGA held a business development event focused on the Disruptive Technologies and Funds sector with the Lithuanian Innovation Agency and the Ministry of Finance.
Link to Data Set
Citation
International Finance Corporation. 2023. IFC and Estonia, Latvia, Lithuania, Partners in Private Sector Development. © World Bank. http://hdl.handle.net/10986/41236 License: CC BY-NC-ND 3.0 IGO .
Associated URLs
Associated content
Report Series
Other publications in this report series
Journal
Journal Volume
Journal Issue
Collections

Related items

Showing items related by metadata.

  • Publication
    IFC and France, Partners in Private Sector Development
    (Washington, DC: World Bank, 2023-09-01) International Finance Corporation
    IFC maintains a strategic relationship with France through the French Treasury, Proparco and the Agence Française de Développement (AFD). IFC, with the support of the French Treasury, serves as the Secretariat of the Alliance for Entrepreneurship in Africa (AforE), a partnership that supports a stronger private sector, entrepreneurship and the growth of small and medium-sized businesses across Africa. In December 2023, IFC and Proparco signed two hundred million trade finance risk-sharing agreement under AforE to strengthen food security in several African countries. In May 2020, IFC and Proparco signed a Joint Collaboration Framework Agreement to create markets, mobilize private sector investment, and support economic recovery in developing countries in the wake of the COVID-19 global crisis. The agreement helps build a pipeline of bankable and high-impact projects aimed at attracting investors into developing countries and promote greater reciprocity in project co-financing arrangements.
  • Publication
    IFC and Finland, Partners in Private Sector Development
    (Washington, DC: World Bank, 2023-09-01) International Finance Corporation
    IFC and the Government of Finland have a track record of successful collaboration mostly in East Asia and the Pacific as well as Europe, focusing on energy efficiency, climate change, and innovation and technology transfers. In FY19-23, Finland provided cumulative funding of close to two million in support of IFC Advisory Services. In FY18, IFC and Finland expanded their collaboration to launch the Finland-IFC Blended Finance for Climate program. Finland contributed €114 million to the program to spur private sector financing for climate-change solutions, especially in low-income countries. IFC also partners with the Ministry of Employment and the Economy, the Ministry of Finance, as well as Finnfund, Finnvera and Business Finland.
  • Publication
    IFC and Austria, Partners in Private Sector Development
    (Washington, DC: World Bank, 2023-09-01) International Finance Corporation
    Austria is a strong partner of IFC Advisory Services, especially in Europe and Central Asia (ECA). With the support of the Austrian Ministry of Finance, IFC has implemented successful projects to promote renewable energy generation and distribution, strengthen cleaner production, expand green finance and increase productivity in agribusiness. Austria has also supported programs aimed at improving the investment climate for private sector development. In FY19-23, Austria provided cumulative funding in support of IFC Advisory Services, most recently for the Austria-IFC Europe Climate Finance Program and the ECA Sustainable Upstream Infrastructure Platform.
  • Publication
    Ukraine : Opportunities and Challenges for Private Sector Development
    (World Bank, Washington, DC, 2014-01-13) International Finance Corporation
    Ukraine has untapped growth potential. Ukraine has one of the most fertile agricultural lands in the world, an attractive geographical location in Europe, bordering the European Union, the largest market in the world with a Gross Domestic Product (GDP) of more than $16 trillion, and a large domestic market of almost 50 million consumers. This note argues that the stunted growth of the private sector goes a long way in explaining Ukraine's poor growth performance. The tepid private sector growth is reflected in: the stagnant structure of the country's exports, where old industries such as steel, machine building and chemicals continue to predominate, operating at low levels of industrial productivity, which has grown at a much slow pace than in peer countries in the last decade; the low inflow of high value-added Foreign Direct Investment (FDI), especially in export-oriented manufacturing; and the relatively limited role of Small Medium Enterprises (SMEs) in the development of the economy. All of these factors suggest that the market-driven process of entrepreneurship, innovation and productivity does not seem to work properly, undermining Ukraine's growth prospects. The note identifies weaknesses in the regulatory environment, limited access to finance and lack of competition as the main constraints to private sector development and offers short-and medium-term policy reform options. The note is structured as follows. The first chapter uncovers the roots of the tepid private sector growth. The following three chapters focus on the three main constraints to private sector development, reviewing weaknesses on the business regulatory framework, access to finance, and competition, and providing recommendations. The last chapter concludes.
  • Publication
    Handshake, No. 9 (April 2013)
    (International Finance Corporation, Washington, DC, 2013-04) International Finance Corporation
    This issue includes the following headings: investment - postwar promises; infrastructure - rebuilding seaports; services - telecoms triumph; economics - the cost of conflict; and interview - Francis Cooper, Claude Kayitenkore, and Melanne Verveer.

Users also downloaded

Showing related downloaded files

  • Publication
    Reserve Management Survey Report 2023
    (Washington, DC: World Bank, 2023-10-27) World Bank
    This survey report represents a collaborative effort between Reserve Advisory and Management Partnership (RAMP) and central banks worldwide to advance the understanding and practice of reserve management. The cooperation of all central banks involved is greatly appreciated, and we anticipate that the findings obtained from this survey will make a valuable contribution to the ongoing success and resilience of central bank reserve management.
  • Publication
    Europe and Central Asia Economic Update, Spring 2025: Accelerating Growth through Entrepreneurship, Technology Adoption, and Innovation
    (Washington, DC: World Bank, 2025-04-23) Belacin, Matias; Iacovone, Leonardo; Izvorski, Ivailo; Kasyanenko, Sergiy
    Business dynamism and economic growth in Europe and Central Asia have weakened since the late 2000s, with productivity growth driven largely by resource reallocation between firms and sectors rather than innovation. To move up the value chain, countries need to facilitate technology adoption, stronger domestic competition, and firm-level innovation to build a more dynamic private sector. Governments should move beyond broad support for small- and medium-sized enterprises and focus on enabling the most productive firms to expand and compete globally. Strengthening competition policies, reducing the presence of state-owned enterprises, and ensuring fair market access are crucial. Limited availability of long-term financing and risk capital hinders firm growth and innovation. Economic disruptions are a shock in the short term, but they provide an opportunity for implementing enterprise and structural reforms, all of which are essential for creating better-paying jobs and helping countries in the region to achieve high-income status.
  • Publication
    Digital Africa
    (Washington, DC: World Bank, 2023-03-13) Begazo, Tania; Dutz, Mark Andrew; Blimpo, Moussa
    All African countries need better and more jobs for their growing populations. "Digital Africa: Technological Transformation for Jobs" shows that broader use of productivity-enhancing, digital technologies by enterprises and households is imperative to generate such jobs, including for lower-skilled people. At the same time, it can support not only countries’ short-term objective of postpandemic economic recovery but also their vision of economic transformation with more inclusive growth. These outcomes are not automatic, however. Mobile internet availability has increased throughout the continent in recent years, but Africa’s uptake gap is the highest in the world. Areas with at least 3G mobile internet service now cover 84 percent of Africa’s population, but only 22 percent uses such services. And the average African business lags in the use of smartphones and computers as well as more sophisticated digital technologies that catalyze further productivity gains. Two issues explain the usage gap: affordability of these new technologies and willingness to use them. For the 40 percent of Africans below the extreme poverty line, mobile data plans alone would cost one-third of their incomes—in addition to the price of access devices, apps, and electricity. Data plans for small- and medium-size businesses are also more expensive than in other regions. Moreover, shortcomings in the quality of internet services—and in the supply of attractive, skills-appropriate apps that promote entrepreneurship and raise earnings—dampen people’s willingness to use them. For those countries already using these technologies, the development payoffs are significant. New empirical studies for this report add to the rapidly growing evidence that mobile internet availability directly raises enterprise productivity, increases jobs, and reduces poverty throughout Africa. To realize these and other benefits more widely, Africa’s countries must implement complementary and mutually reinforcing policies to strengthen both consumers’ ability to pay and willingness to use digital technologies. These interventions must prioritize productive use to generate large numbers of inclusive jobs in a region poised to benefit from a massive, youthful workforce—one projected to become the world’s largest by the end of this century.
  • Publication
    Western Balkans 6 Country Climate and Development Report
    (Washington, DC: World Bank Group, 2024-07-16) World Bank Group
    This Regional Western Balkans Countries Climate and Development Report (CCDR) stands out in several ways. In a region that often lacks cohesive regional alliances, this report emphasizes how the challenges faced across countries are often common and interconnected, and, importantly, that climate action requires coordination on multiple fronts. Simultaneously, it illustrates the differences across countries, places, and people that require targeted strategies and interventions. This report demonstrates how shocks and stressors re intensifying and how investments in adaptation could bring significant benefits in the form of avoided losses, accelerated economic potential, and amplified social and economic spillovers. Given the region’s high emission and energy intensity and the limitations of its current fossil fuel-based development model, the report articulates a path to greener and more resilient growth, a path that is more consistent with the aspiration of accession to the EU. The report finds that the net zero transition can be undertaken without compromising the economic potential of the Western Balkans and that it could lead to higher growth than under the Reference Scenario (RS) with appropriate structural reforms.
  • Publication
    World Bank Annual Report 2024
    (Washington, DC: World Bank, 2024-10-25) World Bank
    This annual report, which covers the period from July 1, 2023, to June 30, 2024, has been prepared by the Executive Directors of both the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA)—collectively known as the World Bank—in accordance with the respective bylaws of the two institutions. Ajay Banga, President of the World Bank Group and Chairman of the Board of Executive Directors, has submitted this report, together with the accompanying administrative budgets and audited financial statements, to the Board of Governors.