July – Club evening with Olga Shcherbina, Head of IFC Belarus
At the July Club Evening we had the honour of welcoming Olga Shcherbina, Head of the International Finance Corporation's Minsk office, as a guest. Ms. Shcherbina is Belarusian by nationality, has been the head of the representative office since 2012 and is a recognized expert in the field of private business financing and financial instruments of the World Bank subsidiary.
It was therefore quite logical that the July Club Evening was devoted to capital, and more specifically, to the possibilities of raising finance for private companies in Belarus. The topic of the evening was as follows: "Opportunities of attracting external financing for investment projects in Belarus in the context of changes in the business and investment climate in 2017-2018".
Ms. Shcherbina started her detailed presentation by introducing the IFC as part of the World Bank's structure and then focused on the local specificities of the organisation's operations in Belarus. She spoke about the IFC's current strategy in the country, areas of application, financial instruments, approaches to project selection, clients and products, as well as advantages and conditions of cooperation. Often, individual topics were supported by practical examples from ongoing and completed IFC projects in Belarus, so that the evening participants could get a concrete picture of the IFC's work and cooperation with it.
In line with its role as an international corporation promoting development in the region, the IFC focuses on market segments not covered by local banks. This is made possible by the World Bank subsidiary's excellent position in the financial markets and its high level of sectoral and regional expertise.
In addition to financing per se, working with IFC brings a number of additional benefits to clients, including detailed audits and ongoing advisory services, which help improve internal company processes and structures, and, which should not be underestimated, an increased level of trust from other potential partners and investors - working with IFC is considered to be an indicator of quality.
In conclusion, it can be said that many companies, while aware of the IFC, do not have comprehensive information about the institution, and often do not consider a potential partnership with it due to lack of information or fear of upfront costs.
We hope that this Club Evening will be an impetus or opportunity for some of our members to start working with the IFC. August is the time of holiday for the NBEC, as it is for many. The next Club Evening is planned for September.
It was therefore quite logical that the July Club Evening was devoted to capital, and more specifically, to the possibilities of raising finance for private companies in Belarus. The topic of the evening was as follows: "Opportunities of attracting external financing for investment projects in Belarus in the context of changes in the business and investment climate in 2017-2018".
Ms. Shcherbina started her detailed presentation by introducing the IFC as part of the World Bank's structure and then focused on the local specificities of the organisation's operations in Belarus. She spoke about the IFC's current strategy in the country, areas of application, financial instruments, approaches to project selection, clients and products, as well as advantages and conditions of cooperation. Often, individual topics were supported by practical examples from ongoing and completed IFC projects in Belarus, so that the evening participants could get a concrete picture of the IFC's work and cooperation with it.
In line with its role as an international corporation promoting development in the region, the IFC focuses on market segments not covered by local banks. This is made possible by the World Bank subsidiary's excellent position in the financial markets and its high level of sectoral and regional expertise.
In addition to financing per se, working with IFC brings a number of additional benefits to clients, including detailed audits and ongoing advisory services, which help improve internal company processes and structures, and, which should not be underestimated, an increased level of trust from other potential partners and investors - working with IFC is considered to be an indicator of quality.
In conclusion, it can be said that many companies, while aware of the IFC, do not have comprehensive information about the institution, and often do not consider a potential partnership with it due to lack of information or fear of upfront costs.
We hope that this Club Evening will be an impetus or opportunity for some of our members to start working with the IFC. August is the time of holiday for the NBEC, as it is for many. The next Club Evening is planned for September.
