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Bank: International Finance Corporation and Mega (MIGA), Work, IFC Aim
Bank: International Finance Corporation and Mega (MIGA), Work, Efforts And The objectives of IFC
World Bank Group (WBG) is a family of five international organizations. These organizations are - International Reconstruction and Development Bank (IBRD), International Development Association (IDA), International Finance Program (IFC), Multilateral Investment Guarantee Agency (MIGA) and International Investment Dispute Settlement Center (ICSID). IFC was formed in July 1956.
This organization provides loans to private industries in the developing countries without any government guarantee and also encourages additional capital investment in these countries, Therefore, the main work of IFC is to ensure financial support for the private sector in developing countries. By the end of March 2015, the number of its members was 184. Its authorized capital was $ 72 billion in July 2014.
The objectives of IFC are as follows:
A. Providing loans to the private sector.
B. Coordination in capital and management.
C. Involve capitalist countries to invest in developing countries.
The proposals of IFC are designed in such a way that they can meet the special needs of our customers in different industries. Special focus is given on infrastructure, manufacturing, agriculture trade, services, and financial markets.
IFC's financial products companies enable risk management and expand their access to foreign and domestic capital markets. IFC's advice helps open doors of private sector investment, which is essential for business expansion, employment generation and developing economies.