IFC, WEF Strengthen Global Partnership to Address Challenges Facing Private Sector Development

​

Washington DC, Geneva, March 10, 2022 – The International Finance Corporation (IFC) and the World Economic Forum (WEF) announced today an enhanced global partnership to tackle the most pressing challenges facing private sector development.

The pandemic demonstrated the power of global coordination and multi-stakeholder action to unlock solutions to global challenges such as climate change, fragility and inequality. Working closely together, IFC and the WEF will maximize public and private sector collaboration to achieve the goals of sustainable development and shared prosperity.

This partnership builds on a unified vision of collaboration across government, civil society and the private sector to drive impactful solutions and solve some of the most pressing challenges of our time, especially for fragile and vulnerable populations:

Strengthening financial inclusion and financial systems:

As the world continues to face the uncertainty created by a global health and economic crisis, IFC and the WEF will work together to support sustainable and equitable economic recovery, focusing on economic inclusion and leveraging opportunities to finance a net-zero transition.

Climate and nature-based solutions:

As businesses in all sectors are ramping up efforts to reduce their carbon footprint, IFC and the WEF will work to harness this momentum and mobilize private capital for climate-friendly investments and climate-smart technologies.

Digitalization:

The digital revolution is disrupting and transforming every aspect of society. Access to new technology holds enormous potential to boost global prosperity and reach historically underserved populations. To this end, IFC and the WEF will work to support digital inclusion and high-impact start-ups to drive long-term growth in emerging economies. 

About IFC

IFC—a member of the World Bank Group—is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2021, IFC committed a record $31.5 billion to private companies and financial institutions in developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity as economies grapple with the impacts of the COVID-19 pandemic. For more information, visit www.ifc.org.

Stay Connected
www.facebook.com/IFCwbg
www.twitter.com/IFC_org
www.youtube.com/IFCvideocasts
www.ifc.org/SocialMediaIndex
www.instagram.com/ifc_org

About the World Economic Forum
The World Economic Forum is the International Organization for Public-Private Cooperation. It engages the foremost political, business, cultural and other leaders of society to shape global, regional and industry agendas.