International Finance Corporation (IFC)

International Finance Corporation (IFC)

International finance corporation (IFC):

The International Finance Corporation (IFC) is the private sector lending arm of the World Bank Group, providing financial services to businesses investing in the developing world.

The two other affiliates of the World Bank Group have narrower missions. The International Finance Corporation (IFC) Created in 1956 is charged with promoting the development of the private sector in developing countries. Acting like an investment banks, the IFC in collaboration with private investors, provides debt and equity capital for promoting commercial activities. For example in 2002 the IFC provides Bangladesh’s Lafarge Surma cement ltd with $ 10 million in equity and $ 35 million in loans for the helping. It builds a $ 60 million plant capable of producing 1.2 million tons of cement annually. The IFC is also interested in helping small entrepreneurs as “Venturing abroad” Indicates. In total the IFC provided $ 5.8 billion of financing in 2002.

It is a public entity, although its clientele consists of transnational, national, and local private sector companies, operating in a competitive and fast-moving business environment.