The
International Finance Corporation (
IFC) is an
international financial institution that offers
investment, advisory, and
asset management services to encourage
private sector development in
developing countries. The IFC is a member of the
World Bank Group and is headquartered in
Washington, D.C.,
United States. It was established in 1956 as the private sector arm of the World Bank Group to advance
economic development by investing in strictly for-profit and commercial projects that purport to
reduce poverty and promote development. The IFC's stated aim is to create opportunities for people to escape poverty and achieve better living standards by mobilizing financial resources for private enterprise, promoting accessible and competitive markets, supporting businesses and other private sector entities, and creating jobs and delivering necessary services to those who are poverty-stricken or otherwise vulnerable. Since 2009, the IFC has focused on a set of development goals that its projects are expected to target. Its goals are to increase
sustainable agriculture opportunities, improve
health and
education, increase access to financing for
microfinance and business clients, advance
infrastructure, help small businesses grow revenues, and invest in
climate health.