What is IFC? What is the difference between IFC and the World Bank?
IFC is a member of the World Bank Group, which consists of five closely associated institutions that are owned by member countries. Each plays a distinct role in helping fight poverty and improve lives. IFC promotes economic development through private sector. Working with business partners, IFC invests in sustainable private enterprises in developing countries without the need for government guarantees. This direct lending to businesses is the fundamental contrast between IFC and the World Bank: under their Articles of Agreement, IBRD and IDA can only lend to the governments of member countries. IFC was founded specifically to address this limitation in World Bank lending. IFC also offers advisory services to support private sector development. Most of these activities are funded in partnership with donor countries; many involve close collaboration with the World Bank.
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- What is IFC? What is the difference between IFC and the World Bank?
