Publication: IFC Annual Report Financials 2024: Accelerating Impact - Mobilizing Investment at Scale
Loading...
Published
2024-11-05
ISSN
Date
2024-11-05
Author(s)
Editor(s)
Abstract
This Management’s Discussion and Analysis (MD&A) discusses the financial results of the International Finance Corporation (IFC or the Corporation) for the fiscal year ended June 30, 2024 (FY24).
Link to Data Set
Citation
“International Finance Corporation. 2024. IFC Annual Report Financials 2024: Accelerating Impact - Mobilizing Investment at Scale. © World Bank. http://hdl.handle.net/10986/42365 License: CC BY-NC 3.0 IGO.”
Digital Object Identifier
Associated URLs
Associated content
Other publications in this report series
Journal
Journal Volume
Journal Issue
Collections
Related items
Showing items related by metadata.
Publication IFC Annual Report 2024(Washington, DC: World Bank, 2024-11-05)The 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. Operating in more than 100 developing countries, IFC utilizes its capital, mobilization capacity, expertise, and influence to create jobs and improve living standards. In fiscal year 2024, IFC committed a record $56 billion to private companies and financial institutions, leveraging private sector solutions and mobilizing private capital to work towards a world free of poverty on a livable planet.Publication IFC 2000 Annual Report : Volume 2. Financial Review(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.Publication IFC Annual Report 2010 : Where Innovation Meets Impact, Volume 1. Main Report(Washington, DC: World Bank, 2010)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 IFC Annual Report 2008 : Creating Opportunity, Volume 1(Washington, DC, 2008)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 2014 : Big Challenges, Big Solutions(Washington, DC: World Bank Group, 2014)International 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.
Users also downloaded
Showing related downloaded files
Publication Comoros Country Climate and Development Report(Washington, DC: World Bank, 2025-06-18)The Union of the Comoros (The Comoros) has significant vulnerability to climate change-related risks but has considerable opportunities to strengthen preparedness and resilience against these challenges. According to the Notre Dame Global Adaptation Index, the Comoros is the 29th-most vulnerable country to climate change and the 163rd most ready to adapt (out of 191). The Comoros archipelago is exposed to many natural hazards that adversely affect the country’s natural capital, people, and physical infrastructure. In 2014, the economic cost of climate-related disasters was estimated at 5.7 million dollars annually, equivalent to 9.2 percent of Gross Domestic Product (GDP). Between 2018 and 2023, as many as 11 tropical depressions or cyclones impacted the country, with Cyclone Kenneth causing the greatest damage, equivalent to 14 percent of GDP, resulting in total economic growth falling from 3.6 percent in 2018 to 1.9 percent in 2019. More than 345,000 people (40 percent of the population) were affected by the cyclone, with 185,000 people experiencing severe impacts and 12,000 people displaced. However, there is an opportunity for the country to grow more robust and shock-responsive, and to establish pre-positioned funding mechanisms to enhance future crisis response efforts. For the Comoros, adaptation and climate-resilient development are the key climate change focus areas, with the country projected to face 836 million dollars 2050 in additional costs due to climate-related impacts. Current plans to adapt to the impacts of climate change in the Comoros include efforts to improve water management, strengthen coastal protection, and develop climate-smart agriculture practices. Given the country’s reliance on its natural resource base for economic growth and mobility, protection of these resources from climate change will be essential for promoting resilient growth and development. In addition to growing the adaptive capacity of the country’s natural resource sectors, strategic economic diversification will be important to help minimize future climate impacts, and development activities will need to be undertaken in such a way as to attract low-carbon co-benefits. The Union of the Comoros is committed to addressing climate change through its Nationally Determined Contribution (NDC) and national priorities. The country’s NDC (which was revised in 2021 for a ten-year horizon) sets ambitious targets, with a goal of reducing greenhouse gas emissions by 23 percent by 2030. The country also plans to significantly increase the share of renewable energy in its energy portfolio, reaching 33 MW by 2030. This will not only promote low-carbon development but also reduce the country’s dependency on imported oil and coal, which currently make up 95 percent of the energy mix. Additionally, the Comoros has declared its intention to increase CO2 removals by 47 percent by 2030, compared to BAU.Publication Tajikistan Country Climate and Development Report(Washington, DC: World Bank, 2025-03-28)The Tajikistan Country Climate and Development Report (CCDR) explores the impact of climate change and global decarbonization on Tajikistan’s development. It identifies key areas to enhance climate resilience and deepen decarbonization and outlines priority recommendations for a successful green transition in Tajikistan, requiring structural reforms, climate-conscious policies, and inclusive strategies for a resilient and sustainable future. Despite economic growth and poverty reduction over the past two decades, Tajikistan's reliance on natural resources and remittances has led to unsustainable development, depleting natural capital and limiting job creation. The government’s green transition plan focuses on renewable energy, promising energy security, economic growth, and regional electricity exports. However, further efforts are needed for a resilient development path, including a complementary reform program to bring significant economic benefits, climate adaptation, and low-carbon development that will benefit Tajikistan and Central Asia's electricity systems. Climate change poses significant risks, threatening water security, agricultural productivity, and infrastructure, potentially reducing GDP per capita by 5-6% by mid-century and pushing 100,000 people into poverty. Additional adaptation measures are crucial, focusing on water management, resilient landscapes, climate-smart agriculture, and disaster risk management. A low-carbon development pathway offers a more resilient and prosperous future, with near net-zero emissions in energy and waste sectors by 2050, boosting economic growth, and job creation and reducing air pollution. Achieving these goals requires substantial investments and institutional reforms to mobilize private capital and attract green foreign investment. Development partners can provide financial assistance, technical expertise, and capacity building.Publication World Bank Annual Report 2024(Washington, DC: World Bank, 2024-10-25)This annual report, which covers the period from July 1, 2023, to June 30, 2024, has been prepared by the Executive Directors of both the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA)—collectively known as the World Bank—in accordance with the respective bylaws of the two institutions. Ajay Banga, President of the World Bank Group and Chairman of the Board of Executive Directors, has submitted this report, together with the accompanying administrative budgets and audited financial statements, to the Board of Governors.Publication Kyrgyz Republic Country Climate and Development Report(Washington, DC: World Bank, 2025-11-03)This Country Climate and Development Report (CCDR) on the Kyrgyz Republic aims to support the country’s development goals amid a changing climate. The CCDR considers two policy scenarios up to 2050: the business-as-usual (BAU) and high-growth scenarios. As it quantifies the likely impacts of climate change on the Kyrgyz economy between now and 2050, the report highlights key government actions to best prepare for and adapt to climate impacts (referred to as “with adaptation” measures), with a particular focus on the time horizon up to 2030. The CCDR also outlines a path to net zero emissions by 2050 (referred to as “with mitigation” measures, “decarbonization,” or, simply, “net zero 2050”), highlighting associated development co-benefits.Publication Jobs in a Changing Climate: Insights from World Bank Group Country Climate and Development Reports Covering 93 Economies(Washington, DC: World Bank, 2025-11-05)The World Bank Group’s Country Climate and Development Reports (CCDRs) provide a crosscutting look at how countries’ development prospects, and the job opportunities they offer to their people, can be threatened by climate impacts and supported by climate policies. Climate change and policies affect jobs through impacts on productivity, energy and material efficiency, and physical, human, and natural capital. They can also transform employment opportunities, especially through complementary measures that help workers and firms adapt to and benefit from new technologies and production practices. Prepared by the World Bank, the International Finance Corporation (IFC), and the Multilateral Investment Guarantee Agency (MIGA), CCDRs integrate country perspectives, climate science and economic modeling, private sector information, and policy analysis to assess how countries can successfully grow and develop their economies and create jobs despite increasing climate risks and while achieving their climate objectives and commitments. Each CCDR starts from the country’s development priorities, opportunities, and challenges, and is developed in close consultation with governments, businesses, and civil society, ensuring the recommendations reflect national priorities. By combining evidence on adaptation, resilience, and emissions pathways, CCDRs highlight where climate action can reinforce development and job creation, and where targeted policies are needed to manage risks and smooth labor market transitions. Taken together, these elements can help create local jobs, ensure economic transitions are just and inclusive, and equip workers and firms to navigate the disruptions and opportunities of a changing climate and changing technologies.