BELARUS NEWS AND ANALYSIS

DATE:

18/07/2008

IFC, Russia's Alfa Group, finance Belarus retailer

MOSCOW, July 17 (Reuters) - The World Bank's International Finance Corp (IFC) is partnering Russian billionaire Mikhail Fridman's Alfa Group to finance a retail firm in Belarus, the IFC said in a statement on Friday.

The IFC, the World Bank's private sector lender, will provide a $6 million loan to an Alfa Group subsidiary, A1 Group, that will use it to help finance the launch of 128 stores for a food retail chain named Belmarket in Belarus, the IFC said.

"A1 will carry out the project. We are giving the money, of course in addition to A1's own funds," Nezhdana Bukova, an IFC representative in Moscow, said. (Reporting by Simon Shuster; Editing by Paul Bolding)

Source:

http://in.reuters.com/article/asiaCompanyAndMarkets/idINL1889818420080718

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