IFC—International Finance CorporationFounded in 1956, the IFC assists with private sector investments, primarily through mobilizing capital on international financial markets, and by providing technical assistance and advice to governments and businesses in developing countries. The IFC coordinates its activities in many areas with the other institutions in the World Bank Group: the World Bank president also serves as the IFC's president. Its current executive vice president is Lars Thunell. The IFC generally operates independently as it is legally and financially autonomous with its own Articles of Agreement, share capital, management and staff. The IFC has 2,400 staff; 178 members; and lends in 80 countries, with 40 per cent of its investments in the financial sector. The IFC's worldwide committed portfolio as of financial year 2005 was $19.3 billion for its own account and $5.3 billion held for participants in loan syndications. read more... Related itemsEvents
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