The World Bank's International Finance Corporation (IFC) is supporting a US$58m investment programme for upgrading the Vladpivo brewery, in Trudovoye, near Vladivostok, in the far east of Russia.

Working with Detroit Investments and the Alfa Group's A-1 Group Limited, the IFC will lend RUB255m (US$8.87m) to brewery owner Vladpivo and make a US$5.3m equity investment in the company's parent, the Far East Brewing Company.

The investment's aim is a reliable annual capacity of 1.8m hectolitres by 2008.