International Finance Corporation (IFC) is an international financial institution that offers investment, advisory, and asset management services to encourage private sector development in developing countries. The IFC is a member of the World Bank Group and is headquartered in Washington, D.C., United States. It was established in 1956 as the private sector arm of the World Bank Group to advance economic development by investing in strictly for-profit and commercial projects that purport to reduce poverty and promote development
The IFC's stated aim is to create opportunities for people to escape poverty and achieve better living standards by mobilizing financial resources for private enterprise, promoting accessible and competitive markets, supporting businesses and other private sector entities, and creating jobs and delivering necessary services to those who are poverty-stricken or otherwise vulnerable
.Since 2009, the IFC has focused on a set of development goals that its projects are expected to target. Its goals are to increase sustainable agriculture opportunities, improve health and education, increase access to financing for microfinance and business clients, advance infrastructure, help small businesses grow revenues, and invest in climate health.
In financing private enterprises, the IFC makes loans without government guarantee of repayment. Unlike most other organizations of its kind, the IFC cannot stipulate how the proceeds of its loans will be spent. The IFC seeks to diversify its investments, having funded projects in the fields of tourism development, animal feeds, iron and steel, fertilizers, and textiles. Its primary activities include providing direct project financing and technical advice and assistance, mobilizing resources by acting as a catalyst for private investment, and underwriting investment funds.
As a member of the World Bank Group, IFC has two overarching goals: End extreme poverty by 2030 and boost shared prosperity—in every developing country.
The IFC's stated aim is to create opportunities for people to escape poverty and achieve better living standards by mobilizing financial resources for private enterprise, promoting accessible and competitive markets, supporting businesses and other private sector entities, and creating jobs and delivering necessary services to those who are poverty-stricken or otherwise vulnerable
.Since 2009, the IFC has focused on a set of development goals that its projects are expected to target. Its goals are to increase sustainable agriculture opportunities, improve health and education, increase access to financing for microfinance and business clients, advance infrastructure, help small businesses grow revenues, and invest in climate health.
In financing private enterprises, the IFC makes loans without government guarantee of repayment. Unlike most other organizations of its kind, the IFC cannot stipulate how the proceeds of its loans will be spent. The IFC seeks to diversify its investments, having funded projects in the fields of tourism development, animal feeds, iron and steel, fertilizers, and textiles. Its primary activities include providing direct project financing and technical advice and assistance, mobilizing resources by acting as a catalyst for private investment, and underwriting investment funds.
As a member of the World Bank Group, IFC has two overarching goals: End extreme poverty by 2030 and boost shared prosperity—in every developing country.
0 comments:
Post a Comment