Diversity as a Competitive Advantage
The knowledge, skills, values, and diversity of our staff enable IFC to bring innovative solutions and global best practices to our clients. As part of the World Bank Group, IFC leads with the same core values of our parent organization – impact, integrity, respect, teamwork and innovation.
Diversity, Equity and Inclusion (DEI) are central to our commitment to employees and creating a culture where everyone is free to bring their whole selves to work. As the largest global development institution focused on the private sector in emerging markets and developing economies, IFC has a unique ability to shape best practices in this space.
IFC’s DEI Commitments
We rely on the knowledge and skills of our employees, especially as we tackle inter-generational issues such as climate change and gender equality. However, not all staff experience the workplace in the same way, which can limit growth and creative potential. While we are tackling many facets of DEI, anti-racism and gender parity are core to this work. Our FY21 DEI Key Highlights report shares more.
As part of the WBG, IFC is committed to end racism. The WBG's Anti-Racism Charter was created in response to recommendations from the World Bank Group Anti-Racism Task Force, whose mandate is to provide concrete recommendations to the president and senior leadership on how to end racism and racial discrimination within the organization, its programs, and communities. The Task Force was set up in 2020 and IFC teams are working to help achieve this critical goal.
IFC earned the second level of EDGE certification, EDGE MOVE, in 2022. Economic Dividends for Gender Equality (EDGE) is the leading global standard for gender equality in the workplace. This article offers insight into IFC's journey.
IFC’s sponsorship and reverse mentorship programs are important pathways to building a pipeline of leaders with inclusive leadership capabilities. Our sponsorship program pairs talented staff with vice presidents to support career development. The reverse mentorship program positions young staff as mentors and senior management members as mentees. Both programs have had multiple successful cohorts and continue to operate.
People-Focused and People-Led
IFC DEI Council
The DEI Council advises the management team on meeting diversity goals and fostering a diverse, equitable, and inclusive environment. The membership of the DEI Council consists of Employee Resource Group members and DEI Advocates nominated to the role and who act as bridges between key stakeholder groups. The council is Co-Chaired by Elena Bourganskaia, Vice President of Corporate Support and Emmanuel Nyirinkindi, Vice President of Cross-Cutting Solutions.
In FY21, IFC also appointed its first ever dedicated Diversity, Equity & Inclusion (DEI) leader, Rani Pooran, to enhance efforts to define and implement a multi-year DEI strategy across the institution.
Employee Resource Groups (ERGs)
An important part of our DEI work comes from employee-led groups that provide staff with safe spaces to connect, learn, and grow. IFC has four official groups open to any member of staff to join.
Timeline of Progress
The milestones represent moments in IFC’s recent history where notable steps have been taken to level the playing field across the organization and to act as a model for DEI work in the sustainable development space. The arc of change has been steady. IFC is committed to continuing to find new and innovative ways to create a psychologically safe workplace, where employees can bring their whole selves to work every day.