IFC or International Finance Corporation boosts private sector investments across different developing nations. This helps in reduction of poverty and social advancements. International Finance Corporation is a member of the World Bank Group.
With its headquarter situated in Washington, World bank successfully operates across different global destinations. International Finance Corporation has contributed significantly in improvement of living standards in the developing nations.
International Finance Corporation was established in the year 1956 and since then it has been a source of loan and equity financing for various private sector projects.
Some of the major ways followed by IFC for development of private sector are as mentioned below:
IFC has helped the private companies in mobilizing finances in international financial markets
Financing private sector projects located in the developing world. It has provided advice and technical assistance to businesses and governmental agencies
At present International Finance Corporation has around 179 member countries. The policies and strategies of International Finance Corporation are determined by the representatives from the member countries. The member countries of International Bank for Reconstruction and Development (IBRD) are eligible to become members of the International Bank for Reconstruction and Development (IBRD).
The governing body of International Finance Corporation comprise of Board of Governors and Board of Directors. The Board of Director is composed of Executive directors or ED’s and almost all of the projects are reviewed by the Board of Directors.
Beside core investment activities, a wide range of technical cooperation projects are also promoted by International Finance Corporation. These activities often remain linked to specific investment projects.
IFC’s technical cooperation activities are usually funded by donor countries. IFC usually functions independently as the organization is financially and legally autonomous. It has its own Articles of Agreement, management, staff, share capital etc.
Address of International Finance Corporation:
International Finance Corporation
2121 Pennsylvania Avenue, NW
Washington, DC 20433 USA
Last Updated on : 1st August 2013