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CandleFocus Glossary Editor
The International Finance Corporation (IFC) is an international financial institution that is part of the World Bank Group. Created in 1956, the IFC is a private sector development arm of the World Bank, investing in private companies and financial institutions in developing countries around the world.
The IFC’s mission is to eliminate poverty through economic development by encouraging investment in the private sector. To do this, the IFC provides financing for companies and financial institutions in developing countries, helping them access the capital they need to expand, create jobs, and drive economic growth. The IFC also offers technical assistance and advisory services.
The IFC's investment portfolio is diverse and includes equity, debt, guarantees and loans. Over the past fiscal year, the IFC invested $31.5 billion in 1,187 investments, with 87% of the financing issued to clients in low or lower-middle-income countries.
The types of investments IFC finances can vary significantly, but typically include investments in agriculture, healthcare, resource efficiency, infrastructure, financial services, and other areas that can expand economic opportunities and reduce poverty. In addition, the IFC has an environmental and social policy that covers how development projects should prioritize environmental and human rights considerations, and a code of governance that promotes good corporate governance practices in their investments.
Critics of the IFC have argued that, despite its mission of eliminating poverty through economic development, the organization’s investments are primarily focused on profits, not people. However, the IFC has sought to combat this criticism by investing more in countries with the highest population of people living in poverty and by offering funding to projects with positive social outcomes.
Overall, since its inception, the IFC has sought to promote responsible business practices and create economic opportunities in developing countries, helping to eliminate poverty, spur economic growth, and provide a better future for generations to come.
The IFC’s mission is to eliminate poverty through economic development by encouraging investment in the private sector. To do this, the IFC provides financing for companies and financial institutions in developing countries, helping them access the capital they need to expand, create jobs, and drive economic growth. The IFC also offers technical assistance and advisory services.
The IFC's investment portfolio is diverse and includes equity, debt, guarantees and loans. Over the past fiscal year, the IFC invested $31.5 billion in 1,187 investments, with 87% of the financing issued to clients in low or lower-middle-income countries.
The types of investments IFC finances can vary significantly, but typically include investments in agriculture, healthcare, resource efficiency, infrastructure, financial services, and other areas that can expand economic opportunities and reduce poverty. In addition, the IFC has an environmental and social policy that covers how development projects should prioritize environmental and human rights considerations, and a code of governance that promotes good corporate governance practices in their investments.
Critics of the IFC have argued that, despite its mission of eliminating poverty through economic development, the organization’s investments are primarily focused on profits, not people. However, the IFC has sought to combat this criticism by investing more in countries with the highest population of people living in poverty and by offering funding to projects with positive social outcomes.
Overall, since its inception, the IFC has sought to promote responsible business practices and create economic opportunities in developing countries, helping to eliminate poverty, spur economic growth, and provide a better future for generations to come.