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 | This article's lead section may be too long. (September 2023) |
 IFC logo | |
 IFC headquarters building, designed by architect Michael Graves | |
| Formation | July 20, 1956 |
|---|---|
| Type | Development finance institution |
| Legal status | Treaty |
| Purpose | Private sector development, Poverty reduction |
| Headquarters | Washington, D.C., United States |
| Membership | 186 countries |
Managing Director | Makhtar Diop[1] |
Parent organization | World Bank Group |
| Website | ifc.org |
The International Finance Corporation (IFC) is an international financial institution headquartered in Washington, D.C. and a member of the World Bank Group that offers investment, advisory, and asset-management services to encourage private-sector development in less developed countries.
It was established in 1956, as the private-sector arm of the World Bank Group, to advance economic development by investing in for-profit and commercial projects for poverty reduction and promoting development.[2][3][4] 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.
It offers an array of debt and equity financing services, helps companies face their risk exposures while refraining from participating in a management capacity and advices to companies on making decisions, evaluating their impact on the environment and society, and being responsible.
The corporation is assessed by an independent evaluator each year. The IFC is in good financial standing and received the highest ratings from two independent credit rating agencies in 2018.[5]
- ^ International Finance Corporation. "Leadership". International Finance Corporation. Retrieved 29 March 2021.
- ^ Ottenhoff, Jenny (2011). International Finance Corporation (Report). Center for Global Development. Retrieved 5 June 2012.
- ^ International Finance Corporation. "IFC History". World Bank Group. Archived from the original on 24 January 2016. Retrieved 9 June 2012.
- ^ Madura, Jeff (2007). International Financial Management (abridged 8th ed.). Mason, Ohio: Thomson South-Western. ISBN 978-0-324-36563-4.
- ^ "Investor Relations". International Finance Corporation. Retrieved 25 June 2019.
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