Our vision is that people should have the opportunity to escape poverty and improve their lives.
Our values are excellence, commitment, integrity and teamwork.
IFC's Purpose is to create opportunity for people to escape poverty and improve their lives by:
Promoting open and competitive markets in developing countries
Supporting companies and other private sector partners where there is a gap
Helping generate productive jobs and deliver essential services to the underserved
Catalyzing and mobilizing other sources of finance for private enterprise development
To achieve its Purpose, IFC offers development-impact solutions through firm-level interventions (direct investments, advisory services and the IFC Asset Management Company); standard-setting; and business enabling environment work.
Abdul Majid lives with a total of 25 family members in a five bedroom house in the Yolmarb area of Mazar-e-Sharif. Despite the meager income he earns from his shop, Majid qualified for a loan of US $1,000 from FMFB which he used to construct a 3x5 meter (approximately 9x16 feet) room to decongest the existing five rooms.
Majid makes payments of $32 a month to repay the loan. He plans to take out another FMFB loan and build an additional room. Majid said he is extremely grateful for the FMFB program for improving living conditions through better housing.
GTFP Trade Finance: Encouraging Energy Development:
When EMAlliance, a Russian energy and technology firm, wanted to import environmentally friendly technology to rehabilitate a coal-fired power plant, it turned to MDM Bank, a leading private-sector Russian bank, to open a letter of credit for the overseas seller, whose bank was based in Finland. IFC provided the multi-million dollar guarantee for the Finnish bank to accept the letter of credit. The rehabilitated power plant is expected to be online by 2012 and will be the first plant in Russia to feature this new technology.
Microfinance: Partnering for Success:
In 2002, IFC promoted the establishment of the AccessBank (AB) by providing a $1.7 million equity investment and bringing together a consortium of other international investors. Today, AB is a part of Acces Microfianance Holding and the leading private bank in Azerbaijan, providing a full range of banking services primarily to micro and small businesses. Currently IFC holds a 20 percent equity share in the bank and has committed $15 million through a senior loan.
Strategic Framework and Access to Finance for Women Study:
IFC's Women in Business Program (previously IFC's Gender Program) assisted the Department of Trade and Industry's (DTI) gender unit in preparing South Africa's Strategic Framework on Gender and Women's Economic Empowerment for presentation to Cabinet and conducted an Access to Finance for Women diagnostic study (2006), with support from the Finmark Trust. The aim was to increase awareness of challenges and opportunities facing women entrepreneurs and secure stakeholder commitment to addressing the identified barriers.
DFCU Technical Assistance Project:
IFC made an investment of US $6 million in DFCU Limited in Uganda, $2 million of which was used to establish an Access to Finance program for women entrepreneurs. This project will enhance DFCU's capacity to lend to women entrepreneurs, thereby increasing women's access to finance. IFC and DFCY also collaborated to develop a financial literary program for women entrepreneurs.