The World Bank Group, other than providing IDA & IBRD financing to bor
rowing governments, also has three other pillars. These are the IFC, MIGA and the ICSID. The activities by the MIGA were explained in an earlier post, in this article we are focusing on the International Finance Corporation ( IFC ), the private sector pillar of the WBG. For the first time in the history of the World Bank Group the IFC was the pillar with the biggest budget, financing for more than $22 billion in fiscal year 2014.
The IFC provides financial support through loans and equity financing to its clients and additionally provide advice to unlock private sector investment. For a project to be eligible for IFC support a number of criteria must be met. The project must be located in a developing country that is a member of the IFC, active in the private sector, be technically sound, have good prospects of being profitable, benefit the local economy and satisfy environmental and social standards.




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