International Finance Corporation (IFC) is a financial institute that is a member of the World Bank Group and provides various services like Investments, Management, and Advisory. This works in many private sectors in undeveloped countries of the world to develop their economy and remove poverty there.

The headquarters of the International Finance Corporation (IFC) is located in Washington, D.C. in the United States of America. This IFC department was established by the World Bank Group in 1956, The main purpose of this Corp. is to eliminate poverty in undeveloped countries by investing in their market and providing them with job opportunities. This Corporation is now working in more than 186 countries of the world under Makhtar Diop who is the manager director of this organization. This also offers many services like debt and equality services to help that company develop their business and with the many job opportunities generated this can be very useful in reducing poverty in any low-developed country.

History

In 1944, the International Monetary Fund and World Bank were established at the Bretton Woods Conference. This bank became the only international banking system of that time and in 1946, became an operational bank. Robert L. Garner became the CEO of this bank in 1947 and gave the idea that it would play an important role in the private sector for business development. In 1950, a new idea came into Garner’s mind that made this a private developer sector. In 1955, the IFC World Bank president wanted to establish a corporation that worked with many companies and gave loans to the governments of low-developed countries. In 2007, the IFC brought 18% of Stake worldwide and worked in 186 countries of the world.

FAQs

What does the International Finance Corporation do?

IFC is an international corporation that helps to improve the lives of underdeveloped countries by investing in private sectors to reduce poverty by increasing job opportunities.

Who is the owner of IFC?

IFC was established in 1956, as a member of the World Bank Group that focuses on the private sector as the developmental institutor and helps them.

Is IFC a World Bank?

Yes, IFC is a member of the World Bank Group and worked as an international developer corporation that wanted to reduce poverty and give people a better lifestyle. Its membership is now spread in more than 186 countries around the world. All membered countries appointed an alternate and a governor for this purpose.