It is difficult to predict the future

Caspian Energy (CE): Mr. Tsitsiragos, how successful was 2015 for IFС? What plans do you have for 2016?

Dimitris Tsitsiragos, IFC Vice President, Global Client Services: Despite the challenging environment and current volatility in many emerging markets, we made progress by staying engaged and bringing our financing, as well as global knowledge and expertise to our clients. Our financing in emerging markets in FY15 increased by 17 percent, reaching almost $18 billion. Over $7 billion of this amount was mobilized from other investors who joined us because of IFC’s 60-year track record of successful results. 

By investing in our private sector clients, we contributed to economic growth, new jobs, better services, improved access to finance, and mitigating climate change. By the end of calendar year 2014, our clients employed 2.5 million people (including creating 1 million new jobs in 2012-2014), generated power for 56 million customers, distributed water to 23 million people, provided gas to 35 million people, and enabled 56 million micro, small and medium enterprises (MSMEs) to get credit.

Lower growth prospects, turbulence, lower commodity prices, weaker currencies, political instability and other factors continue to make our work challenging. Despite the difficult global business environment, our financial position remains solid, demonstrating that developmental success can be achieved alongside commercial success even in challenging areas. We will continue focusing on our strategic priorities to help countries create new sustainable jobs, improve infrastructure, boost small and medium enterprises, increase access to financing, and mitigate climate change.