Publication: IFC The First Six Decades: Leading the Way in Private Sector Development--A History
Date
2016-11-08
ISSN
Published
2016-11-08
Author(s)
International Finance Corporation
Abstract
This 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.
Citation
“International Finance Corporation. 2016. IFC The First Six Decades: Leading the Way in Private Sector Development--A History. © International Finance Corporation, Washington, DC. http://hdl.handle.net/10986/25402 License: CC BY-NC-ND 3.0 IGO.”