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 + \r + 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 2023: Building a Better Future
    (International Finance Corporation, Washington, D.C., 2023-10-19) 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, mobilization capacity, expertise, and influence to create jobs and raise living standards, especially for the poor and vulnerable. In fiscal year 2023, IFC committed a record 43.7 billion dollars to private companies and financial institutions in developing countries, leveraging the power of the private sector to improve people’s lives 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
    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
    IFC Annual Report 2010 : Where Innovation Meets Impact, Volume 1. Main Report
    (Washington, DC: World Bank, 2010) International Finance Corporation
    More than 200 million people in the developing world were out of work this year. Over 1 billion are hungry, while millions more are confronting the threat that climate change poses. The United Nations estimates that 884 million people don't have safe drinking water and more than 2.6 billion people lack basic sanitation. The population of the developing world will expand by a third over the next four decades, growth that will strain already weak infrastructure. In this environment, International Finance Corporation (IFC) is innovating to create opportunity where it's needed most. IFC committed a record $18 billion in fiscal year 2010, $12.7 billion of which was for own account. We invested in 528 projects, an 18 percent increase from FY09. Advisory Services portfolio comprised 736 active projects valued at more than $850 million, with annual expenditures totaling $268 million. Countries served by the International Development Association, or IDA, accounted for nearly half our investments 255 projects totaling $4.9 billion and more than 60 percent of Advisory Services expenditures. Sub-Saharan Africa accounted for 19 percent of our investment commitments and 25 percent of Advisory Services expenditures. The invested a record $1.64 billion in clean energy, leveraging $6.8 billion, while climate change related projects grew to 15 percent of the value of our Advisory Services portfolio. The investments in microfinance rose 10 percent to $400 million, expanding microfinance portfolio to $1.2 billion.
  • Publication
    The World Bank in Nigeria, 1998-2007: Nigeria Country Assistance Evaluation
    (Washington, DC: World Bank, 2010) Independent Evaluation Group
    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 Annual Report 2008 : Creating Opportunity, Volume 1
    (Washington, DC, 2008) International Finance Corporation
    The International Finance Corporation (IFC) annual report continues an approach pioneered last year, combining information on the investments and advisory services, sustainability, development effectiveness, and donor partnerships. The report covers fiscal 2008 (July 1, 2007, through June 30, 2008) and discusses the year's new business as well as the performance and development results of the portfolio. In FY08, new investments totaled $16.2 billion, rising 34 percent from the previous year. The IFC seeks to enhance the accountability and to articulate the vision, core corporate values, purpose, and the way the IFC works for a wide range of stakeholders: client companies, governments, partners, local communities affected by the activities, advocacy organizations, investors, and the staff.
  • Publication
    IFC Annual Report 2007 : Creating Opportunity
    (Washington, DC: World Bank, 2007) International Finance Corporation
    This fiscal year the Board of Directors maintained close oversight of International Finance Corporation's (IFC's) efforts to increase and measure its development impact. Directors reaffirmed their support for IFC's strategic directions, including more specific emphasis on agribusiness and small and medium enterprises, as well as IFC's growth strategy. The Board approved a number of investments and joint World Bank-IFC-Multilateral Investment Guarantee Agency (MIGA) country assistance strategies and continued to encourage stronger collaboration, both across the World Bank Group and with partners and stakeholders. Specific issues that Directors discussed with management included IFC's strategy for Africa, the joint Bank Group strategy for the financial sector, the launch of a new IFC-World Bank department focusing on sub-national finance, and several proposals for new products and services with potential to expand IFC's reach in client countries. The Board continued to monitor new methods for measuring outcomes of IFC's investments and advisory services, as well as progress in implementing IFC's environmental and social performance standards. The Board welcomed IFC's strong performance in FY07. These include record levels of financing and expansion of advisory activity in Africa and the Middle East, as well as measurable progress in a number of frontier markets and strategic sectors.
  • Publication
    IFC Annual Report 2006 : Increasing Impact, Volume 2
    (Washington, DC, 2006) International Finance Corporation
    The International Finance Corporation (IFC), in its 50th year, is the largest provider of multilateral financing for private sector projects in the developing world. In fiscal 2006, it committed $6.7 billion in funds from its own account and mobilized an additional $1.6 billion through syndications and $1.3 billion through structured finance. Based on the total costs of the private sector projects it helped finance this year, each $1 in IFC commitments for its own account resulted in an additional $2.88 in funding from other sources. Altogether, IFC supported 284 investment projects in 66 countries. This year nearly a quarter of IFC commitments were in low-income or high-risk countries, demonstrating the viability of private enterprise even in difficult environments. IFC's investment commitments to firms operating in the Middle East and North Africa more than doubled in fiscal 2006, and commitments for private sector projects in Sub-Saharan Africa increased nearly 60 percent. IFC introduced a new development outcome tracking system for investment operations to measure and track results throughout the life of a project; a similar system was implemented to monitor the development impact of all active technical assistance and advisory projects.
  • Publication
    2003 Annual Report : Innovation, Impact, Sustainability--IFC's Commitment, Volume 2
    (Washington, DC, 2003-06) International Finance Corporation
    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
    2003 Annual Report : Innovation, Impact, Sustainability--IFC's Commitment
    (Washington, DC, 2003) International Finance Corporation
    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
    IFC 2001 Annual Report : Volume 2. Management's Discussion and Analysis, Financial Statements, and Investment Portfolio
    (Washington, DC, 2001) International Finance Corporation
    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.