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 3,100 staff; 181 members; and lends in 80 countries, with 40 per cent of its investments in the financial sector. In 2008 the IFC´s worldwide committed portfolio for its own account was $32.3 million and $7.5 million held for participants in loan syndications. read more background... Items 1 to 10 of 293Submission on the World Bank and IFC to DFID's multilateral aid reviewAs the UK government reviews its funding and relationships with multilateral organisations, we argue that the World Bank Group's poor performance, lack of country ownership and accountability, and tendency to 'mission creep', require a focus on institutional and policy change at the Bank, and no increase in funding. read article... Meeting of UK NGOs and Susanna Moorehead, UK Executive Director to the World Bank, and Rachel Turner, Director of International Finance Department, DFID July 2010Notes of the meeting read article... Is IFC palm oil investment a foregone conclusion?The World Bank is currently undertaking a major review of its controversial engagement in palm oil production, but critics warn that consultation has been inadequate and that the Bank seems to have already decided to continue investment in the sector. read article... IFC finances China investment in AfricaIn April, the International Financial Corporation (IFC), the World Bank’s private sector arm, agreed to finance Chinese investment in a Tanzanian commercial complex in Dar es Salaam. read article... World Bank performance standards review reveals need to raise the barWith a review of the social and environmental performance standards of the International Finance Corporation (IFC) underway, reports from within the World Bank Group as well as civil society highlight the need for reform. read article... World Bank fails to focus on results in healthA newly published report adds to mounting criticism of the World Bank’s approach to health projects. read article... World Bank clings to fossil fuels, stumbles on clean energyThe World Bank's energy lending suggests that it remains wedded to fossil fuels, as independent evaluators and civil society groups raise serious concerns about its approach to energy efficiency and renewables. read article... World Bank investment lending reform: pro-poor?In May, the Heinrich Böll Foundation released a critique of the World Bank's investment lending reforms read article... World Bank work on land supports "a new form of colonialism"A set of voluntary principles for agricultural investment in developing countries, launched by the World Bank and other institutions in April, veils the promotion of investors' interests at the expense of host populations, warn civil society groups. read article... Court finds fault with IFC-backed paper millControversy over the Botnia paper mill, which was part financed by the International Finance Corporation (IFC), the World Bank's private sector arm, continues as the International Court of Justice (ICJ) ruled that Uruguay breached regional treaty obligations by failing to properly inform neighbouring Argentina when authorising its construction. read article... |
Articles: 2881 Related itemsRecent briefings & reports
Submission on the World Bank and IFC to DFID's multilateral aid review 2 September 2010
Analysis of World Bank voting reforms: Governance remains illegitimate and outdated 30 April 2010
Bottom lines, better lives? Rethinking multilateral financing to the private sector in developing countries 22 April 2010
The UK's role in the World Bank and IMF: Department for International Development and HM Treasury 26 March 2010
Helping farmers weather risks?: Assessing the World Bank's work on index insurance 23 September 2009
Bretton Woods Project submission on the DFID White Paper 11 May 2009 ResourcesReview and update of IFC sustainability framework 2 June IEG on China utility-based energy efficiency finance programme 14 May Joint Statement of Indigenous Peoples, Smallholders and NGOs to IFC Consultation on Palm Oil 1 May Amnesty International submisison on IFC performance standards review 1 May ICJ rules on pulp millcase 20 April New world - same World Bank 30 March Civil society joint submisison to IFC performance standards review 11 March US comments on the IFC's review of performance standards 1 January Newswire |
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