Ministry of Economic Development of Georgia > News
IFC, a member of the World Bank Group, announced that it plans to invest up to €100 million to buy nonperforming loans in Central and Eastern Europe.
The proposed co-investment project aims to help local economies recover from the crisis by addressing the problem of bad debts and troubled assets.
This project to remove troubled assets from bank balance sheets, approved by IFC’s board, is aimed at ensuring that banks in these emerging markets are able to continue to provide financing to businesses and credit to consumers, boosting economic activity and creating more jobs.
