The FINANCIAL -- Tbilisi , Georgia, July 18, 2011—IFC, a member of the World Bank Group, is training Georgian bankers in specific aspects of risk management to help make the banking system more stable and efficient.

IFC held training sessions on July 14-15 in Tbilisi that covered the main trends in global banking. The training focused on financial instruments that can minimize liquidity risks arising from events such as credit rating downgrades or sudden, unexpected cash outflows. Over 20 participants from leading banks joined the program.

“The training helped participants understand how liquidity risks affect the banking business,” said Thomas Lubeck, IFC Regional Head for the Caucasus. “Participating bankers acquired a set of standards that can be applied in their respective banks to mitigate and prevent those risks in the future.”

IFC’s Financial Crisis Response Program in Europe and Central Asia organized the training in partnership with the Development Bank of Austria.

IFC’s cumulative investments in Georgia since 1995 total $550 million in 39 projects across a variety of sectors. Through its Advisory Services, IFC is working towards reform of Georgia’s tax system to benefit small businesses, helping raise food safety standards, and strengthening the risk-management practices of banks. Georgia has been a member of IFC since 1995.

About IFC

IFC, a member of the World Bank Group, is the largest global development institution focused exclusively on the private sector. We help developing countries achieve sustainable growth by financing investment, providing advisory services to businesses and governments, and mobilizing capital in the international financial markets. In fiscal 2011, amid economic uncertainty across the globe, we helped our clients create jobs, strengthen environmental performance, and contribute to their local communities—all while driving our investments to an all-time high of nearly $19 billion. 

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