Publication:
IFC 2004 Annual Report : Adding Value to Private Sector Investment, Volume 2. Management's Discussion and Analysis, Financial Statements, and Investment Portfolio

Loading...
Thumbnail Image
Files in English
English PDF (2.1 MB)
486 downloads
English Text (591.14 KB)
360 downloads
Date
2004
ISSN
Published
2004
Editor(s)
Abstract
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.
Link to Data Set
Citation
International Finance Corporation. 2004. IFC 2004 Annual Report : Adding Value to Private Sector Investment, Volume 2. Management's Discussion and Analysis, Financial Statements, and Investment Portfolio. © World Bank. http://hdl.handle.net/10986/14283 License: CC BY-NC-ND 3.0 IGO.
Associated URLs
Associated content
Report Series
Other publications in this report series
Journal
Journal Volume
Journal Issue
Citations

Related items

Showing items related by metadata.

  • Publication
    Financial Sector Assessment Program Update : Republic of Poland - Credit, Growth, and Financial Stability
    (World Bank, Washington, DC, 2006-10) World Bank; International Monetary Fund
    Two main issues at the interface between economic growth and financial stability are germane to this year's article four consultation and the Financial Sector Assessment Program (FSAP) update: the first is why the recent pace of financial catching-up has been so much slower in Poland than in its regional peers, and whether this might hamper Poland's long-term economic prospects; and the second question is how significant the prudential risks associated with rapid growth in housing loans are. The chapter is organized as follows: section II.B discusses credit developments in the last decade and factors driving these developments and assesses implications for economic growth. Section II.C examines reasons for rapid growth of foreign currency lending and implications for financial stability. Section II.D (and appendix) review cross-country experiences with policy responses to rapid credit growth of foreign currency credit and discuss recent policy measures taken in Poland. Section II.E concludes the chapter.
  • Publication
    Financial Sector Assessment : Tunisia
    (Washington, DC, 2006-07) World Bank
    The joint International Monetary Fund/World Bank mission that visited Tunis from January 16 - 31 and March 27 - 31, 2006 as part of the Financial Sector Assessment Program (FSAP) update for Tunisia carried out a detailed analysis of the ability of the Tunisian banking sector to support the country's development objectives. Upon invitation of the Governor of the Central Bank of Tunisia (BCT), the mission organized three well attended workshops on: (i) the restructuring of nonperforming loans; (ii) management of public banks; and (iii) the use of information for financing Small Medium Enterprises (SMEs) and individuals. The Tunisian economy registered a strong performance over the past decade. With average real growth rates of 5 percent since 2000, real per capita income increased by 20 percent in a context of macroeconomic stability. In 2005, the rate of inflation declined to 2 percent and the fiscal deficit was brought down to around 3 percent. The current account deficit on the balance of payments narrowed considerably since 2000, to reach 1.3 percent of Gross domestic product (GDP) in 2005 in spite of further progress in trade liberalization.
  • Publication
    Financial Sector Assessment Program : Brazil - Basel Core Principles for Effective Banking Supervision
    (World Bank, Washington, DC, 2012-04) International Monetary Fund; World Bank
    Brazil has a well-defined banking supervision process supported by a legal framework that grants the Banco Central do Brasil (BCB) broad enforcement powers for corrective action and weak bank resolution. This assessment of the Basel Core Principles (BCP) for effective supervision was conducted from February 27 through March 20, 2012. As agreed with the authorities, the supervisory framework was assessed against the BCP methodology issued by the Basel Committee on Banking Supervision (BCBS) in October 2006. In self-assessment the authorities addressed both essential and additional criteria and the assessors based their conclusions on compliance with both criteria. The last BCP assessment was conducted in 2002, however, the grading is not comparable to this assessment as the principles and methodology were revised in 2006. Although the BCB operates on an independent mode, there are amendments to Law 4595-1964 (banking law) that will aid in protecting the continuation of the operational independence.
  • Publication
    The Basel III Financial Architecture and Emerging Regulatory Developments in Macro Prudential Tools
    (Washington, DC, 2012) World Bank
    This note reviews the main elements of the New Basel III global regulatory framework and its regulatory implications, as well as the menu of macro prudential regulatory options to consider for application to ensure more resilient banks and baking systems.
  • Publication
    IFC Annual Report 2010 : Where Innovation Meets Impact, Volume 2. IFC Financials, Projects, and Portfolio 2010
    (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.

Users also downloaded

Showing related downloaded files