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 2009 : Their/Our Story, Creating Opportunity Where It's Needed Most
    (Washington, DC: World Bank, 2009) International Finance Corporation
    The global economic crisis has opened an uncertain chapter, especially for the 2.5 billion people who live on less than $2 a day. Many of them lack access to electricity, or clean water, or basic health care. For at least a decade, economic growth in developing countries helped expand the availability of basic necessities while steadily reducing the number of people in poverty. But this year, the number of people in extreme poverty is expected to be much higher than was predicted before the crisis. Unemployment is rising. Yet many countries lack the domestic resources needed to speed up development. International Finance Corporation (IFC) has responded swiftly and creatively to improve the lives of the most vulnerable people by working with the private sector to create conditions for sustainable prosperity, wherever the need is greatest. IFC has quickly ramped up its advisory efforts and mobilized its donor partners to help governments, clients, and markets cope with the crisis and recover speedily. Priorities include: helping financial institutions better manage their risks and their nonperforming loans; complementing investment efforts in banking for small and medium enterprises, microfinance, and housing finance with advice to financial institutions; supporting governments' efforts to keep trade flowing with advice on trade logistics; helping governments facing larger deficits widen their tax base; encouraging governments to simplify their bankruptcy systems to allow indebted companies to recover faster; advising boards of directors on risk management and crisis intervention; and helping governments redesign public-private infrastructure projects that face crisis-related difficulties.
  • Publication
    IFC Annual Report 2009 : Creating Opportunity Where It's Needed Most, Volume 2. Financials, Projects, and Portfolio
    (Washington, DC: World Bank, 2009) International Finance Corporation
    International Finance Corporation (IFC) is an international organization, established in 1956, to further economic growth in its developing member countries by promoting private sector development. IFC's principal investment products are loans and equity investments, with smaller debt securities and guarantee portfolios. IFC also plays a catalytic role in mobilizing additional funding from other investors and lenders, either through co financing or through loan participations, underwritings, and guarantees. In addition to project finance, corporate lending and resource mobilization, IFC offers an array of financial products and advisory services to private businesses in the developing world to increase their chances of success. It also advises governments on how to create an environment hospitable to the growth of private enterprise and foreign investment. IFC raises virtually all of the funds for its lending activities through the issuance of debt obligations in the international capital markets, while maintaining a small borrowing window with International Bank for Reconstruction and Development (IBRD). The management discussion and analysis contains forward looking statements which may be identified by such terms as 'anticipates,' 'believes,' 'expects,' 'intends,' 'plans' or words of similar meaning. Such statements involve a number of assumptions and estimates that are based on current expectations, which are subject to risks and uncertainties beyond IFC's control. Consequently, actual future results could differ materially from those currently anticipated.
  • 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 2008 : Creating Opportunity, Volume 2. IFC 2008 Financials, Projects, and Portfolio
    (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 1
    (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
    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
    IFC Annual Report 2005 : Investing in Progress with Experience, Innovation, and Partnership, Volume 2. Financial Statements, Projects, Portfolio, and Organizational Information
    (Washington, DC, 2005) International Finance Corporation
    The International Finance Corporation is at the forefront of private sector development: it is redefining how poverty can be reduced and lives improved through a stronger private sector in emerging markets. Accomplishing this goal means reaching people, regions, and sectors that have not yet shared in the overall growth of emerging markets. It means innovation-forging new partnerships with governments and other multilateral institutions, identifying new roles for the private sector, creating products that develop financial markets, and making it easier for disadvantaged people to launch a business or own a home. It means building on significant strengths in many countries and industries-helping established enterprises become more competitive and sustainable as they expand their operations or extend their reach into new markets. It also means bringing to developing economies proven products and techniques, both from industrialized countries and, increasingly, from other developing countries. Above all, it means tailoring global expertise to local needs. This annual report outlines the strategic objectives of the institution in expanding access to finance, increasing private participation in key sectors, helping successful enterprises grow, focusing where needs are greatest, and ensuring sustainability.
  • Publication
    IFC Annual Report 2005 : Investing in Progress with Experience, Innovation, and Partnership, Volume 1
    (Washington, D, 2005) International Finance Corporation
    The International Finance Corporation is at the forefront of private sector development: it is redefining how poverty can be reduced and lives improved through a stronger private sector in emerging markets. Accomplishing this goal means reaching people, regions, and sectors that have not yet shared in the overall growth of emerging markets. It means innovation-forging new partnerships with governments and other multilateral institutions, identifying new roles for the private sector, creating products that develop financial markets, and making it easier for disadvantaged people to launch a business or own a home. It means building on significant strengths in many countries and industries-helping established enterprises become more competitive and sustainable as they expand their operations or extend their reach into new markets. It also means bringing to developing economies proven products and techniques, both from industrialized countries and, increasingly, from other developing countries. Above all, it means tailoring global expertise to local needs. This annual report outlines the strategic objectives of the institution in expanding access to finance, increasing private participation in key sectors, helping successful enterprises grow, focusing where needs are greatest, and ensuring sustainability.
  • Publication
    IFC 2004 Annual Report : Adding Value to Private Sector Investment, Volume 1
    (Washington, DC, 2004) International Finance Corporation
    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.