IFC TO HOLD SEMINAR ON ECONOMIC CRISIS MANAGEMENT FOR ARMENIAN, GEORGIAN BANKS

ARKA
Apr 30, 2009

YEREVAN, April 30. /ARKA/. The International Financial Corporation
(IFC) will hold a seminar on issues of economic crisis management
for workers of Armenian and Georgian banks.

IFC is a member of the World Bank’s group and assists banks of Armenia
and Georgia in decreasing risks in issuing loans to local entrepreneurs
and small businesses in strengthening their potential. As a global
response to crisis, IFC is going to hold a seminar "Overcoming the
Storm" for assisting banks of Armenian and Georgia in preparation
for the crisis and overcoming it, the Corporation’s press-service
told ARKA.

Executive directors and managers of large financial companies,
financial regulators will participate in the seminar to learn a
lesson from the previous economic crisis and discuss the strategy
for managing the current one.

Seminar will be aimed at issues of steps, implementation of which
will best regulate the situation when borrowers have difficulties
paying the credit.

IFC experts who have experience in solving similar problems in Asia,
East Europe and Latin America will introduce their knowledge in
these issues.

IFC Regional Director for Caucasus Thomas Lubeck stated they are ready
to share their global experience with heads of financial companies of
Armenia and Georgia. He said participants of the seminar will learn
how =0 Ato prepare and manage financial difficulties among borrowers.

IFC is a large financial company and carries out investments in
private sectors of newly established markets. It has large-scale
initiatives aimed at managing global financial and economic crisis
by private enterprises.

Sponsoring of these projects around the world is expected to total
31bln USD in three years. Funds of IFC will be joined with other
sources, namely investments of governments and other international
financial institutes.

IFC is also aimed at contributing to reduction of poverty and
increasing standard of life. The corporation spurs stable economic
growth in developing countries and assists to development of private
sector, consolidating private capital and rendering consulting services
to entrepreneurs and governments.

IFC investments amounted to 16.2bln AMD in 2008, an increase of 34%
against the year before.