Sound, inclusive, and sustainable financial markets are vital to development as they ensure efficient resource allocation. IFC’s work with financial intermediaries has helped strengthen financial institutions and overall financial systems. It has also allowed us to support far more micro, small, and medium enterprises than we would be able to on our own.
Working through financial intermediaries enables IFC to encourage them to become more involved in sectors that are strategic priorities such as women-owned businesses and climate change, and in underserved regions such as fragile and conflict-affected states as well as in housing, infrastructure, and social services.
In FY13, our commitments in financial markets totaled about $3.6 billion, about 20 percent of commitments for IFC’s own account.