Rio, November 14, 2002 (Agência Brasil - ABr) - The International Finance Corporation (IFC), financial arm of the World Bank, is encouraged about working with the new Brazilian administration. This declaration was made today at a meeting with entrepreneurs at the American Chamber of Commerce, by Bernard Pasquier, IFC director for Latin America and the Caribbean.

According to Pasquier, last year Brazil accounted for 27%, around US$ 1.5 billion, of the total volume of funds transferred by the IFC to the region. The purpose of the institution is to promote sustainable investments in the private sector of developing countries. The IFC sets priority on the approval of projects, the reduction of poverty, and the improvement in people's quality of life.

Although he admitted that loans in 2003 will not necessarily repeat the level of 2001, Pasquier reaffirmed that the IFC is ready to do business with Brazil and will attempt to allocate more of its own and collaborators' resources to the country in Lula's administration. (DAS)