Yearbook of the United Nations, 2001. Part 6, Intergovernmental organizations related to the United Nations. Chapter 7, International Finance Corporation (IFC)

Abstract

The International Finance Corporation (IFC), part of the World Bank Group, continued in fiscal 2001 (1 July 2000–30 June 2001) to promote growth in developing countries, by financing private sector investments, helping to mobilize capital in the international financial markets and providing technical assistance and advice to Governments and businesses. IFC pursued investment in fiscal 2001 under challenging circumstances—private capital flows to emerging markets continued to be depressed, private debt flows declined and lenders tended to be short-term oriented while concentrating on large, well-established businesses. Since demand for IFC services remained high under those conditions, IFC focused its resources where it could promote the strongest development impact. Over 40 per cent of its investments for its own account were in low-income or high-risk countries and over 70 per cent in its priority sectors. During fiscal 2001, IFC membership increased to 175.