Publication: IFC Annual Report 2024: Accelerating Impact - Mobilizing Investment at Scale
Loading...
Published
2024-11-05
ISSN
Date
2024-11-05
Author(s)
Editor(s)
Abstract
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.
Link to Data Set
Citation
“International Finance Corporation. 2024. IFC Annual Report 2024: Accelerating Impact - Mobilizing Investment at Scale. © World Bank. http://hdl.handle.net/10986/42363 License: CC BY-NC 3.0 IGO.”
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 Financials 2024(Washington, DC: World Bank, 2024-11-05)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).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.Publication IFC Annual Report 2005 : Investing in Progress with Experience, Innovation, and Partnership, Volume 1(Washington, D, 2005)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.
Users also downloaded
Showing related downloaded files
Publication The Container Port Performance Index 2023(Washington, DC: World Bank, 2024-07-18)The Container Port Performance Index (CPPI) measures the time container ships spend in port, making it an important point of reference for stakeholders in the global economy. These stakeholders include port authorities and operators, national governments, supranational organizations, development agencies, and other public and private players in trade and logistics. The index highlights where vessel time in container ports could be improved. Streamlining these processes would benefit all parties involved, including shipping lines, national governments, and consumers. This fourth edition of the CPPI relies on data from 405 container ports with at least 24 container ship port calls in the calendar year 2023. As in earlier editions of the CPPI, the ranking employs two different methodological approaches: an administrative (technical) approach and a statistical approach (using matrix factorization). Combining these two approaches ensures that the overall ranking of container ports reflects actual port performance as closely as possible while also being statistically robust. The CPPI methodology assesses the sequential steps of a container ship port call. ‘Total port hours’ refers to the total time elapsed from the moment a ship arrives at the port until the vessel leaves the berth after completing its cargo operations. The CPPI uses time as an indicator because time is very important to shipping lines, ports, and the entire logistics chain. However, time, as captured by the CPPI, is not the only way to measure port efficiency, so it does not tell the entire story of a port’s performance. Factors that can influence the time vessels spend in ports can be location-specific and under the port’s control (endogenous) or external and beyond the control of the port (exogenous). The CPPI measures time spent in container ports, strictly based on quantitative data only, which do not reveal the underlying factors or root causes of extended port times. A detailed port-specific diagnostic would be required to assess the contribution of underlying factors to the time a vessel spends in port. A very low ranking or a significant change in ranking may warrant special attention, for which the World Bank generally recommends a detailed diagnostic.Publication Digital Progress and Trends Report 2023(Washington, DC: World Bank, 2024-03-05)Digitalization is the transformational opportunity of our time. The digital sector has become a powerhouse of innovation, economic growth, and job creation. Value added in the IT services sector grew at 8 percent annually during 2000–22, nearly twice as fast as the global economy. Employment growth in IT services reached 7 percent annually, six times higher than total employment growth. The diffusion and adoption of digital technologies are just as critical as their invention. Digital uptake has accelerated since the COVID-19 pandemic, with 1.5 billion new internet users added from 2018 to 2022. The share of firms investing in digital solutions around the world has more than doubled from 2020 to 2022. Low-income countries, vulnerable populations, and small firms, however, have been falling behind, while transformative digital innovations such as artificial intelligence (AI) have been accelerating in higher-income countries. Although more than 90 percent of the population in high-income countries was online in 2022, only one in four people in low-income countries used the internet, and the speed of their connection was typically only a small fraction of that in wealthier countries. As businesses in technologically advanced countries integrate generative AI into their products and services, less than half of the businesses in many low- and middle-income countries have an internet connection. The growing digital divide is exacerbating the poverty and productivity gaps between richer and poorer economies. The Digital Progress and Trends Report series will track global digitalization progress and highlight policy trends, debates, and implications for low- and middle-income countries. The series adds to the global efforts to study the progress and trends of digitalization in two main ways: · By compiling, curating, and analyzing data from diverse sources to present a comprehensive picture of digitalization in low- and middle-income countries, including in-depth analyses on understudied topics. · By developing insights on policy opportunities, challenges, and debates and reflecting the perspectives of various stakeholders and the World Bank’s operational experiences. This report, the first in the series, aims to inform evidence-based policy making and motivate action among internal and external audiences and stakeholders. The report will bring global attention to high-performing countries that have valuable experience to share as well as to areas where efforts will need to be redoubled.Publication Business Ready 2024(Washington, DC: World Bank, 2024-10-03)Business Ready (B-READY) is a new World Bank Group corporate flagship report that evaluates the business and investment climate worldwide. It replaces and improves upon the Doing Business project. B-READY provides a comprehensive data set and description of the factors that strengthen the private sector, not only by advancing the interests of individual firms but also by elevating the interests of workers, consumers, potential new enterprises, and the natural environment. This 2024 report introduces a new analytical framework that benchmarks economies based on three pillars: Regulatory Framework, Public Services, and Operational Efficiency. The analysis centers on 10 topics essential for private sector development that correspond to various stages of the life cycle of a firm. The report also offers insights into three cross-cutting themes that are relevant for modern economies: digital adoption, environmental sustainability, and gender. B-READY draws on a robust data collection process that includes specially tailored expert questionnaires and firm-level surveys. The 2024 report, which covers 50 economies, serves as the first in a series that will expand in geographical coverage and refine its methodology over time, supporting reform advocacy, policy guidance, and further analysis and research.Publication Global Economic Prospects, January 2025(Washington, DC: World Bank, 2025-01-16)Global growth is expected to hold steady at 2.7 percent in 2025-26. However, the global economy appears to be settling at a low growth rate that will be insufficient to foster sustained economic development—with the possibility of further headwinds from heightened policy uncertainty and adverse trade policy shifts, geopolitical tensions, persistent inflation, and climate-related natural disasters. Against this backdrop, emerging market and developing economies are set to enter the second quarter of the twenty-first century with per capita incomes on a trajectory that implies substantially slower catch-up toward advanced-economy living standards than they previously experienced. Without course corrections, most low-income countries are unlikely to graduate to middle-income status by the middle of the century. Policy action at both global and national levels is needed to foster a more favorable external environment, enhance macroeconomic stability, reduce structural constraints, address the effects of climate change, and thus accelerate long-term growth and development.Publication Global Economic Prospects, June 2025(Washington, DC: World Bank, 2025-06-10)The global economy is facing another substantial headwind, emanating largely from an increase in trade tensions and heightened global policy uncertainty. For emerging market and developing economies (EMDEs), the ability to boost job creation and reduce extreme poverty has declined. Key downside risks include a further escalation of trade barriers and continued policy uncertainty. These challenges are exacerbated by subdued foreign direct investment into EMDEs. Global cooperation is needed to restore a more stable international trade environment and scale up support for vulnerable countries grappling with conflict, debt burdens, and climate change. Domestic policy action is also critical to contain inflation risks and strengthen fiscal resilience. To accelerate job creation and long-term growth, structural reforms must focus on raising institutional quality, attracting private investment, and strengthening human capital and labor markets. Countries in fragile and conflict situations face daunting development challenges that will require tailored domestic policy reforms and well-coordinated multilateral support.