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The International Finance Corporation was established with a mission to promote private sector investment in developing countries of the world in the year 1956 when there was lack of worldwide spirit towards privatization.
On July 24, 1956 Robert L. Garner joined as the president of IFC by board of Directors.
IFC is a member of the World Bank Group. It aims at attaining higher economic growth, reducing poverty and creating a better business environment among the member countries.
IFC Investments
IFC generally invests in the enterprises owned by the private sector throughout developing countries in the world. As to statistics, IFC made investments on 236 projects in 67 countries in the financial year 2005.
IFC Governance
All the 178 member countries of IFC provide an authorized share capital of $2.4 billions. The member countries finalize the policies and approve the investment for the countries. The corporate power of the IFC is vested upon the board of governors, which delegates powers to the board of 24 directors.
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Board of governors and directors in the member countries guides the IFC's activities.
IFC contact details of its headquarter and general enquiries are as follows:
Headquarters
International Finance Corporation
2121 Pennsylvania Avenue, NW
Washington, DC 20433 USA
General Inquiries
IFC Corporate Relations
Tel: (202) 473-3800
Fax: (202) 974-4384
IFC Member Countries
Presently International Finance Corporation has 178 member countries. For becoming a member of the International Finance Corporation the country should be a member of World Bank and must have signed IFC's Article of Agreement.
| Countries | Year Of Joining | |
Afghanistan | 1957 | |
Albania | 1991 | |
Algeria | 1990 | |
Angola | 1989 more |
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