IFC is one of the five major organizations of the World Bank Group. 1956 was established on July 20th, and is now jointly held by the governments of 177 as shareholders.
The main shareholders of IFC include the United States, Japan, Germany, Britain and France.
IFC is committed to providing diversified financial support to the private sector in developing countries and emerging markets, including equity investment, long-term debt investment, funds and structured financing.
The company is appraised by an independent appraiser every year. 20 1 1 year, its evaluation report acknowledged that its investment performance was good and reduced poverty, but suggested that the company define poverty and expected results more clearly, so as to better understand its effectiveness and solve the poverty problem more strategically. The total investment of the company in 20 1 1 year is186.6 billion USD.
20 1 1 promised to provide consulting services for 642 projects with a value of 820 million US dollars, and held current assets worth 24.5 billion US dollars. The financial position of IFC is good, and in 20 18, IFC was awarded the highest rating by two independent credit rating agencies.
International finance companies are often criticized by non-governmental organizations, saying that they cannot track their funds because they use financial intermediaries. For example, Oxfam and other non-governmental organizations found in a report "The Suffering of Others" on 20 15 that IFC did not do enough due diligence and risk management in many investments in third-party lending institutions.
Other criticisms focus on the excessive cooperation between IFC and big companies or rich people. These companies or rich people can finance their investments without the help of public institutions such as IFC, and this investment has not produced enough positive development impact. An example often cited by NGOs and critical journalists is that the International Finance Corporation provided funds for a five-star hotel of the Saudi Prince in Ghana.
enterprise management
IFC is managed by its board of directors, which meets once a year, and each member country is composed of one director (usually the finance minister or the finance minister of the country).
Each member usually appoints a director and an alternate director. Although the company's power belongs to the board of directors, the directors entrust most of the company's power and daily affairs (such as loans and business operations) to the board of directors. The board of directors of IFC consists of 25 executive directors, who meet regularly and work in IFC headquarters, and are chaired by the President of World Bank Group.
The Executive Director * * * represents all 185 Member States. When the board of directors of IFC votes on matters submitted to it, the voting right of each executive director is weighted according to the total share capital of the member state represented by the director.
The IFC is now managed by a new leader? Makhtar Diop has been the managing director and executive vice president of IFC since March, 20265438. Sustainable infrastructure in developing countries and emerging economies.
The CEO of IFC is responsible for supervising its overall direction and daily operations. Philippe Le Houérou is the CEO of International Finance Corporation.
Since Yong Jin was appointed President of the World Bank Group in March, 20 16, Mr. Le Houérou has led the organization's new strategy, which is to create markets in underdeveloped countries and redefine development financing through initiatives and reforms to release billions of dollars. Additional private sector investment.
Although IFC coordinates its activities with other institutions of the World Bank Group in many fields, it usually operates independently because it is an independent entity with legal and financial autonomy and is established according to its own terms of agreement. The company has more than 3,400 employees, half of whom are stationed in the field offices of its member countries.