Established in 1956, the International Finance Corporation (IFC) is the largest public source of financial investment for private sector projects in developing countries. Unlike the grass-roots development efforts pursued by the IBRD and the International Development Association, the IFC’s investments are often used for projects such as the building of hotels or power plants, where finance and trade are more heavily involved. IFC provides private sector investment, helps companies acquire additional financing in international markets, and provides technical advice and assistance. Membership to the IFC is reserved only to member countries of the International Bank for Reconstruction and Development (the World Bank). Currently, the IFC has 182 members and its employees come from 140 countries located in 102 offices in 92 countries. IFC operations are tailored to specific client needs and country circumstances, and cross a broad spectrum of sectors. The IFC has committed more than $32.4 billion of its funds, plus $7.5 billion in syndications for 1,490 companies in 122 countries. The IFC has increased its funds to $12.7 billion in 2010.
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- The International Finance Corporation
Felix I. Lessambo
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