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Russia: World Bank's IFC Head To Discuss Investments

Washington, 5 June 1997 (RFE/RL) - The head of the International Finance Corporation (IFC), Jannik Lindbaek, is in Moscow for talks with senior Russian officials and industry leaders. The subject concerns possible IFC investments in key economic sectors, including manufacturing, energy and infrastructure.

Lindbaek, Executive Vice President of the corporation which is the World Bank's affiliate for the private sector, will be in the Russian capital through Friday.

The IFC has already approved investments totaling $371.1 million in Russia, with heavy emphasis on the manufacturing, the oil, gas and mining, and the capital markets sectors, but is interested in expanding that equity involvement.

The IFC has also done pioneering work in land privatization in Russia and has promised to continue that program.