IFC Annual Reports & Financial Statements
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International Finance Corporation is a member of the World Bank Group. IFC’s purpose is to create opportunity for people to escape poverty and improve their lives by: promoting open and competitive markets in developing countries, supporting companies and other private sector partners where there is a gap, helping generate productive jobs and deliver essential services to the underserved, and catalyzing and mobilizing other sources of finance for private enterprise development. \r +
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To achieve our purpose, IFC offers development impact solutions through firm-level interventions (direct investments, Advisory Services, and IFC Asset Management Company), standard setting, and business-enabling environment work.
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Publication
IFC Annual Report 2022: Stepping Up in a Time of Uncertainty
(International Finance Corporation, Washington, DC, 2022)IFC - a member of the World Bank Group - is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2022, IFC committed a record $32.8 billion to private companies and financial institutions in developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity as economies grapple with the impacts of global compounding crises. -
Publication
IFC Annual Report 2021: Meeting the Moment
(International Finance Corporation, Washington, DC, 2021-10-04)International Finance Corporation (IFC), a member of the World Bank Group, is the largest global development institution focused on the private sector in emerging markets and developing economies. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities for better lives. In fiscal year 2021, we invested $31.5 billion in total commitments, including $23.3 billion in long-term finance and $8.2 billion in short-term finance, to private companies and financial institutions in emerging and developing economies, leveraging the power of the private sector to end extreme poverty and boost shared prosperity. For more information, visit www.ifc.org. -
Publication
The World Bank in Nigeria, 1998-2007: Nigeria Country Assistance Evaluation
(Washington, DC: World Bank, 2010)This country assistance evaluation assesses the outcomes of the World Banks program in Nigeria during the period 1998–2007. The Country Assistance Evaluation focuses on the objectives of that assistance and the extent to which outcomes were consistent with those objectives. It looks at the Banks contribution to the achievement of those outcomes and at the lessons for the Banks future activities in Nigeria and in other countries. The evaluation includes a review of relevant documents, complemented by interviews with Bank staff and other key donors, as well as with representatives of the Nigerian government, the private sector, and civil society. Overall, the outcomes of the Bank program in Nigeria are rated as moderately unsatisfactory. This reflects an improvement relative to IEG’s 2000–04 assessment, which rated the outcome of Bank assistance as unsatisfactory. The current assessment recognizes the country’s signal achievements in maintaining macroeconomic stability and laying the basis for more effective and cost-efficient performance of the central government. There are major risks associated with this, however. The earnings from Nigeria’s oil and gas resources require strong management that puts the national interest ahead of that of individuals and state governments. In the fragmented context of Nigerian politics, that is a tough proposition to maintain. If the government shows the necessary leadership and successfully leverages the resources it has to provide incentives to state governments to do a better job of delivering social services, there is the potential for real progress in reducing poverty and achieving the MDGs. -
Publication
IFC 2004 Annual Report : Adding Value to Private Sector Investment, Volume 1
(Washington, DC, 2004)For the fiscal year ended June 30, 2004, the International Finance Corporation (IFC) expanded its sustainable development impact through private sector project financing operations and advisory activities. This year the Board of Directors approved a number of investments and maintained close oversight of development and implementation of IFC strategy. The Board was heavily involved in discussion of IFC's strategic directions, which outline the overall framework for future IFC activities. The Board urged IFC to collaborate more closely with other World Bank Group institutions, especially in providing technical assistance on the business climate and private sector development. In this regard, Directors were pleased to note the increased cooperation between IFC and IDA in Africa. The Board also reviewed country-specific operations and discussed 15 joint World Bank-IFC-MIGA country assistance strategies and related products. Directors noted the challenges in both maintaining profitability and increasing development impact, and they reaffirmed their support of IFC's focus on frontier markets, with a particular emphasis on small and medium enterprises; innovative financing mechanisms; "south-to-south" investments; long-term partnerships; infrastructure; and health and education. Specific issues Directors discussed with IFC management include the update of the IFC's Safeguard Policies and associated guidelines, the review of IFC's Policy on Disclosure of Information, an assessment of IFC's strategy and procedures for donor funded operations, and, in conjunction with other units of the World Bank Group, the Extractive Industries Review. These discussions were ongoing into FY05, along with a proposal to establish a technical assistance and advisory fund to provide sustainable financial support for the Corporation's growing technical assistance activities. -
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2003 Annual Report : Innovation, Impact, Sustainability--IFC's Commitment
(Washington, DC, 2003)This annual report reviews the International Finance Corporation's (IFC) operations activity during FY03, a period that emphasized coordination, and mutually reinforcing efforts among World Bank Group units, particularly in pursuing private sector development in client countries. The report stresses the need for support of IFC's priorities, including emerging, and frontier markets, technical assistance, and advisory services to help improve investment climates, and small and medium enterprises. Also underscored, is the significance of IFC's presence in difficult, country environments as a central component of its development mandate, while IFC's counter-cyclical role in the face of heightened investor uncertainty, and volatility of capital flows to developing countries, is recognized, as is the Corporation's performance within the annual portfolio performance review, despite continued difficulty in the global economic environment. IFC's financial management is reviewed, and its leadership for protecting the Corporation's financial integrity, without compromising its development mandate, was commendable, though the need to maintain profitability, while increasing development impacts, is stressed. The report presents financial highlights, particularly outlining IFC's commitment to innovation, impact, and sustainability, and further identifies the period's operational, and regional outlook. The annual review also summarizes the financial and portfolio reviews, as well as technical assistance and advisory services during FY03. -
Publication
The IFC Difference : 2001 Annual Report, Volume 1
(Washington, DC, 2001)This 2001 Annual Report for the International Finance Corporation (IFC) presents financial highlights, IFC products and services, the investment portfolio, regional reports, project evaluations, and the organization's financial statements. -
Publication
International Finance Corporation 2000 Annual Report : Volume 1. Building Business, Creating Opportunity
(Washington, DC, 2000-08)This is the International Finance Corporation (IFC) annual report for FY2000, which outlines its increased gross approvals, led by a record of new investments in Sub-Saharan Africa; the realization of its second-highest-ever annual net income; and, the significant resurgence in commercial bank lending through its syndications program. However, during the period IFC also felt the push of reformers, and critics, and the effects of a changing market place. Responsive to changing needs, IFC looks at how to bridge the digital divide which threatens the developing world; at ways to strengthen domestic financial markets; at how to address basic infrastructure; and, at how to improve access to health care and education, as well as how to improve environmental, and social sustainability. IFC's single largest sectoral focus remains the financial sector, which amounted to forty six percent of new approvals, though strategic priorities were further refined to align its activities with market realities, by building business, and creating job opportunities. Moreover, it has pioneered corporate environmental and social responsibility, by moving the private sector to actively promote economic development. IFC activities during FY2000 are presented, and, through case studies, shows the range of projects, by region and investment type. Finally, IFC's financial review describes performance, funding management, capital earnings, as well as risk management, and credit risk.