International Finance Corporation (IFC)
The International Finance Corporation (IFC) is a member of the World Bank Group and is headquartered in Washington, DC. Established in 1956, IFC’s mission is to promote sustainable private sector investment in developing countries, helping to reduce poverty and improve people’s lives.
IFC is the largest multilateral source of loan and equity financing for private sector projects in the developing world. The organization promotes sustainable private sector investment in developing countries that is economically beneficial, financially and commercially sound, and environmentally and socially sustainable; as a way to reduce poverty and improve people’s lives.
It is the belief of the organization that sound economic growth is the key to poverty reduction; that it is grounded in the development of entrepreneurship and successful private investment; and that a conducive business environment is needed for the latter to thrive and contribute to improve people’s lives.
IFC promotes sustainable private sector development primarily by:
- Financing private sector projects located in the developing world.
- Helping private companies in the developing world mobilize financing in international financial markets.
- Providing advice and technical assistance to businesses and government