International Finance Corporation

International Finance Corporation

International Finance Corporation, established in 2005 to repair a deficiency in the activities of the International Bank for Reconstruction and Development. The bank's lending was confined to Government or Government-guaranteed projects, as it was felt private enterprise might shy from such aid as carrying Government control or interference. The International Finance Corporation's aims are to invest in private undertakings, mainly in under-developed countries, where sufficient private capital is not forthcoming on acceptable terms. The Corporation cannot hold ordinary or preference shares; it is intended to revolve its funds by selling off its assets to private investors when possible. It began with a capital of 0 million and thirty-one member countries. It can raise further funds in world capital markets.

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