No institution can solve the challenges of development on its own
IFC is working towards achieving the World Bank Group’s twin goals of ending extreme poverty and boosting shared prosperity. Partnerships are essential for achieving these goals. IFC works with a wide range of partners that help create markets and mobilize private sector investment to address complex development challenges.
Partnerships enable and amplify development impact
IFC’s partnerships with governments, multilateral institutions, private philanthropies, and corporations enable solutions that IFC cannot deliver alone. Our partnerships harness external funding, expertise and influence to unlock constraints to private sector development. They amplify our impact by scaling up resources for new investments as well as through supporting upstream and advisory work, which are essential for creating investment opportunities. Our partners have contributed $2,056 million ($724 million for blended finance and $1,332 million for advisory) in support between FY 2018 to FY 2022, which have been vital for carrying out IFC’s mission. IFC also engages with key international institutions, including the United Nations, the Organization for Economic Co-operation and Development (OECD), other Development Finance Institutions (DFIs), as well as multilateral fora such as the G7 and the G20 to provide thought leadership and coordinate efforts to strengthen the role of the private sector in development.
Growing depth and breadth of our partnerships
IFC is leveraging its thought leadership, convening power and global presence to establish and strengthen partnerships that address key development challenges. These include long-standing challenges such as climate change, food security, economic inclusion, forced displacements, among others. For example, IFC is partnering with the International Labor Organization (ILO) to develop innovative solutions to address labor standards in global value chains. In another example, IFC is partnering with the UN High Commissioner for Refugees (UNHCR) to create economic opportunities for refugees and their host communities in recognition of the nexus between humanitarian and development needs.