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50-Year Timeline

1956IFC launched with 31 members
1957First loan, to Siemens, Brazil
1958First investment in Pakistan
1959First investment in India
As of the end 1959, IFC had a committed portfolio of $42 million with 17 countries represented in its investment portfolio.
Member Countries: 58


1961Equity investments authorized
IFC announced first sale of an investment in a completed project
1962First equity investment, in Spain
1963First joint venture with World Bank
1964First joint venture with Inter-American Development Bank
1965First loan agreement ratified
1966First investment in tourism, Kenya
As of the end 1969, IFC had a committed portfolio of $199 million with 43 countries represented in its investment portfolio.
Member Countries: 92

1970Joint Bank-IFC Audit Committee established
1971Capital Markets department created
1973IFC's Board adopts policy to invest in public enterprises that are private sector oriented
1974First investment in Jordan, tile factory
1975IFC's first major commercial loans syndications (for projects in Brazil and Korea)
1977First representative office establised in East Asia
First leasing company investment, Korea
First investment in gas transmission project, Colombia
1979Policy implemented to help developing countries expand their production of mineral resources
As of the end 1979, IFC had a committed portfolio of $1.4 billion with 48 countries represented in its investment portfolio.
Member Countries: 112

1981The term "emerging markets" coined by IFC
Emerging Markets Database developed
1983First representative office established in India
1984First direct IFC borrowings in international capital markets
1988African Enterprise Fund created to finance small and medium enterprises (SMEs)
1989IFC bond rated AAA enabling IFC to borrow on its own in the capital markets
As of the end 1989, IFC had a committed portfolio of $4.7 billion with 79 countries represented in its investment portfolio.
Member Countries: 134

1990Advisory services on privatization and corporate restructuring established
First full-time environmental advisor hired
1993First environmental review procedure established
1994First information disclosure policy established
1997$100 million investment in MOZAL approved by the Board, Mozambique
IFC moves into new headquarters, 2121 Pennsylvania Avenue
1999Office of the Compliance Adviser/Ombudsman created
Increased focus on health and education sectors
As of the end 1999, IFC had a committed portfolio of $13.5 billion with 136 countries represented in its investment portfolio.
Member Countries: 175

2000Small & Medium Enterprise department created; expansion of project development facilities
2001First partial credit guarantee on a local currency bond issue
Corporate Governance program introduced
2002Sustainability Initiative launched
First investment in microfinance bank in Afghanistan
2003Commercial banks adopt Equator Principles
First transaction of nonperforming loans in China
First carbon emission credits deals
First subsovereign financing in Mexico–partial credit guarantee for local currency bond issue by a water municipality
2004First large-scale empowerment of black owners in South African gold mining industry
2005First African continent bond issue launched by any supernational in Johannesburg
Global Trade Finance Program initiated in support of emerging markets trade
World’s first sustainability-dedicated credit line in Brazil
First structured financing and partial guarantee for Ghana’s education sector
As of the end fiscal year 2005, IFC had a committed portfolio of $19.3 billion with 140 countries represented in its investment portfolio.
Member Countries: 178