Founded in 1956, with headquarters situated in Washington, DC.
Part of the World Bank Group.
Mandate: Support economic development and improve the quality of life through private sector development in developing countries.
Functions: It promotes development of the private sector in:
- Investing businesses by providing loans, equity, debt securities and guarantees.
- Mobilizing capital from other lenders and investors through loan participations, parallel loans and other means.
- Advising business and government to attract private investment and improve the investment climate.
Governing:
The member countries own and govern the IFC. Shareholders of the corporation are its member governments, which provide paid-in capital and have a right to vote in its matters. The President of the World Bank Group is automatically the President of IFC.
