International Finance Corporation (IFC) is an investment corporation owned and financed by about 180 countries. The IFC promotes the growth of productive private enterprise in less developed member countries. It invests in private enterprises in such countries without government guarantee. Its investments form part of a larger amount of capital put up by private local or foreign investors. The IFC also invests in projects financed jointly by the government and private investors.
The IFC provides financing by investing in the enterprise’s stock, by granting loans, or by combinations of the two. It also underwrites issues of corporate securities, provides financial and technical assistance to private development banks, and seeks the investment of private capital to supplement its own.
The IFC was founded in 1956. It is a specialized agency of the United Nations (UN). It is affiliated with the World Bank. Only World Bank members can belong to the IFC. The headquarters of the IFC are in Washington, D.C.
See also World Bank .
