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. 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 2019: Investing for Impact(Washington, DC: International Finance Corporation, 2019-10-10) International Finance CorporationIFC, a member of the World Bank Group, is the largest global development institution focused on the private sector in developing countries. Established in 1956, IFC is owned by 185 member countries, a group that collectively determines our policies. We leverage our products and services—as well as those of other institutions across the World Bank Group—to create markets that address the biggest challenges of our time that developing countries face. We apply our financial resources, technical expertise, global experience, and innovative thinking to provide sustainable market-based solutions that bring widespread benefits. IFC is also a leading mobilizer of third-party resources for projects. Our willingness to engage in difficult environments and our leadership in crowding in private finance enable us to have a development impact well beyond our direct resources.Publication IFC Annual Report 2018: Redefining Development Finance(Washington, DC: International Finance Corporation, 2018-09-27) International Finance CorporationIFC, a member of the World Bank Group, is the largest global development institution focused on the private sector in developing countries. Established in 1956, IFC is owned by 184 member countries, a group that collectively determines our policies. In FY18, IFC invested $23.3 billion, including nearly $11.7 billion mobilized from other investors. Our comprehensive approach helped businesses innovate, build internationally competitive industrial sectors, and create better jobs.Publication IFC Annual Report 2017: Creating Markets(Washington, DC, 2017-10) International Finance CorporationThe International Finance Corporation (IFC) and the Multilateral Investment Guarantee Agency (MIGA), two institutions focused on private sector development, are leading our efforts to create markets and crowd in private sector investment in developing countries. For six decades, IFC has been at the leading edge of mobilizing private capital for development, which will be essential to achieve the Sustainable Development Goals. With the knowledge that have accumulated over sixty years, IFC is uniquely placed to give the private sector a central role in financing and delivering development solutions. The scale of this ambition, together with IFC’s objective of doing more in the poorest countries, requires a new strategic framework, based on new analytical and financial tools and approaches, which IFC is now rolling out. In the FY17 context of strengthening growth and improving market conditions in developing economies, IFC delivered a record 19.3 billion US dollars in financing to private companies in seventy five countries. This year, IFC launched the world’s biggest green-bond fund dedicated to emerging markets. In FY17, sixty three percent of IFC’s advisory program was delivered to clients in IDA countries and twenty percent in fragile and conflict-affected areas, while twenty six percent was climate-related. In addition, almost a third of new advisory projects included a focus on gender impact in project design. IFC continues to innovate beyond the successful loan syndications and investments by IFC Asset Management Company in private equity. Through strong partnerships with the private and public sectors, IFC can enhance its power to create markets and improve the lives of millions of people.Publication IFC The First Six Decades: Leading the Way in Private Sector Development--A History(International Finance Corporation, Washington, DC, 2016-11-08) International Finance CorporationThis is a story of experience - an unparalleled body of knowledge built up in the toughest markets, under the most challenging conditions, and applied to address the world’s most urgent development challenges. Six decades ago, a few dozen countries made a calculated bet on the transformative potential of the private sector in developing countries. They put up 100 million dollars in capital and established International Finance Corporation (IFC) to reinforce the work of the World Bank in spurring growth and development. Today, IFC is the largest global development institution focused on the private sector, having delivered nearly 250 billion dollars in financing to businesses in emerging markets. Throughout its history, IFC has introduced new approaches to meet the needs of developing countries. IFC consistently brought to bear a distinctive set of advantages in working with the private sector to end extreme poverty and boost shared prosperity - a history of innovation, a mandate for global influence, an understanding of the demonstration effect of its actions, and a determination to achieve measurable development impact. Six decades of experience and a record of innovation and thought leadership in private sector development have made the organization essential for creating opportunity where it’s needed most.Publication IFC Annual Report 2016: Experience Matters(Washington, DC, 2016-09-27) International Finance CorporationIFC, a member of the World Bank Group, is the largest global development institution focused on the private sector in developing countries. Established in 1956, IFC is owned by 184 member countries, a group that collectively determines our policies. We have six decades of experience in the world’s most challenging markets. With a global presence in more than 100 countries, a network consisting of hundreds of financial institutions, and more than 2,000 private sector clients, IFC is uniquely positioned to create opportunity where it’s needed most. We use our capital, expertise, and influence to help end extreme poverty and boost shared prosperity.Publication IFC Financials 2015: Private Sector Matters for Development(Washington, DC: World Bank Group, 2015-09-15) International Finance CorporationInternational Finance Corporation (IFC or the Corporation) is the largest global development institution focused on the private sector in developing countries. The accounting and reporting policies of IFC conform to accounting principles generally accepted in the United States (GAAP). IFC’s accounting policies are discussed in more detail in Section VI, Critical Accounting Policies, and in Note A to IFC’s Consolidated Financial Statements as of and for the year ended June 30, 2015 (FY15 Consolidated Financial Statements). Management uses Income available for designations (Allocable Income) (a non-GAAP measure) as a basis for designations of retained earnings. Allocable Income generally comprises net income excluding net unrealized gains and losses on equity investments and net unrealized gains and losses on non-trading financial instruments accounted for at fair value, income from consolidated entities other than AMC, and expenses reported in net income related to prior year designations.Publication IFC Annual Report 2015: Private Sector Matters for Development(Washington, DC: World Bank Group, 2015-09-15) International Finance CorporationInternational Finance Corporation (IFC or the Corporation) is the larg¬est global development institution focused on the private sector in developing countries. Established in 1956, IFC is owned by 184 mem¬ber countries, a group that collectively determines its policies. IFC is a member of the World Bank Group (WBG) but is a legal entity separate and distinct from IBRD, IDA, MIGA, and ICSID, with its own Articles of Agreement, share capital, financial structure, management, and staff. Membership in IFC is open only to member countries of IBRD. IFC helps developing countries achieve sustainable growth by financ¬ing private sector investment, mobilizing capital in international financial markets, and providing advisory services to businesses and governments. IFC’s principal investment products are loans and equity investments, with smaller debt securities and guarantee port¬folios. IFC also plays an active and direct role in mobilizing additional funding from other investors and lenders through a variety of means. Such means principally comprise: loan participations, parallel loans, sales of loans, the non-IFC portion of structured finance transactions which meet core mobilization criteria, the non-IFC portion of com¬mitments in IFC’s initiatives, and the non-IFC investment portion of commitments in funds managed by IFC’s wholly owned subsidiary, IFC Asset Management Company LLC (AMC), (collectively Core Mobilization). Unlike most other development institutions, IFC does not accept host government guarantees of its exposures. IFC raises virtually all of the funds for its lending activities through the issuance of debt obligations in the international capital markets, while main¬taining a small borrowing window with IBRD. Equity investments are funded from capital (or net worth).Publication IFC Financials and Projects 2014 : Big Challenges, Big Solutions(Washington, DC: World Bank Group, 2014-09-25) International Finance CorporationInternational Finance Corporation (IFC or the Corporation) is the largest global development institution focused on the private sector in developing countries. Established in 1956, IFC is owned by 184 member countries, a group that collectively determines its policies. IFC is a member of the World Bank Group (WBG)1 but is a legal entity separate and distinct from IBRD, IDA, MIGA, and ICSID, with its own Articles of Agreement, share capital, financial structure, management, and staff. Membership in IFC is open only to member countries of IBRD. At the 2013 Spring Meetings, the WBG adopted two ambitious goals: to end extreme poverty by 2030 and to boost shared prosperity for the poorest 40 percent in developing countries. At the Annual Meetings in October 2013, the Board of Governors approved the first strategy for the WBG focused on delivery of transformational solutions, marshaling combined resources more effectively, and accelerating collaboration with the private sector and our development partners. IFC s strategic focus areas are: strengthening the focus on frontier markets; addressing climate change and ensuring environmental and social sustainability; addressing constraints to private sector growth in infrastructure, health, education, and the food-supply chain; developing local financial markets; and building long-term client relationships in emerging markets.Publication IFC Annual Report 2014 : Big Challenges, Big Solutions(Washington, DC: World Bank Group, 2014) International Finance CorporationInternational Finance Corporation (IFC or the Corporation) is the largest global development institution focused on the private sector in developing countries. Established in 1956, IFC is owned by 184 member countries, a group that collectively determines its policies. IFC is a member of the World Bank Group (WBG)1 but is a legal entity separate and distinct from IBRD, IDA, MIGA, and ICSID, with its own Articles of Agreement, share capital, financial structure, management, and staff. Membership in IFC is open only to member countries of IBRD. At the 2013 Spring Meetings, the WBG adopted two ambitious goals: to end extreme poverty by 2030 and to boost shared prosperity for the poorest 40 percent in developing countries. At the Annual Meetings in October 2013, the Board of Governors approved the first strategy for the WBG focused on delivery of transformational solutions, marshaling combined resources more effectively, and accelerating collaboration with the private sector and our development partners. IFC s strategic focus areas are: strengthening the focus on frontier markets; addressing climate change and ensuring environmental and social sustainability; addressing constraints to private sector growth in infrastructure, health, education, and the food-supply chain; developing local financial markets; and building long-term client relationships in emerging markets.Publication IFC Annual Report 2013 : The Power of Partnerships, Volume 2. Financials and Projects(Washington, DC: World Bank, 2013-09-17) International Finance CorporationThe International Financial Corporation (IFC), a member of the World Bank Group, is the largest global development institution focused exclusively on the private sector in developing countries. This report summarizes IFC’s role in helping the private sector create jobs and opportunity in developing countries. It highlights how we spur innovation, influence policy, provide a demonstration effect for others, and strive to maximize our development impact. Volume 2 provides the financial statements.