International Finance Corporation - Explained
What is the International Finance Corporation?
Written by J. Mance Gordon
Updated at April 21st, 2024
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What is the International Finance Corporation?
The International Finance Corporation (IFC) is an organization established in 1956 by the World Bank Group with an aim of reducing poverty and creating jobs in developing countries through the development of private enterprises. The IFC has 184 countries as its members and its headquarter is located in Washington, D.C.
How does the International Finance Corporation Work?
The organization provides investment and asset management services to the private sector in developing countries. This is done to support the development of private companies and institutions in these countries that lack the basic infrastructure needed for business. They also support these companies by securing or guaranteeing financing. The IFC also provides support to private companies in gaining access to securities markets and other appropriate financing.
The corporations objectives include: the development of agriculture which is sustainable expanding small scale businesses through enhanced facilities like microfinance, improving their infrastructure. develop robust and friendly policies around healthcare and education. Along with financial support and advise, IFC also brings global experience, technical knowledge and innovation in their thought process to support developing nations in solving issues ranging from financial to operational and even political issues.