IFC Development Impact

IFC seeks to learn from experience investing in developing countries and conducts studies of select projects and initiatives to better capture lessons and understand the development impact of its investments.

Explore the latest development impact case studies.


Saving the Lives of the Most Vulnerable - With Financial Returns

CASE STUDY: GHIF - An Innovative Funding Structure Tackles Neglected Diseases Around the World
health | January 2017

GHIF is a social impact fund launched in 2012 by the Bill and Melinda Gates Foundation to finance the development of drugs, vaccines, and diagnostic tests for diseases that primarily affect low- and middle-income countries. The Gates Foundation structured GHIF to emphasize financial sustainability alongside social impact, measured by lives saved and improved. IFC invested $10 million, which helped GHIF attract a total of $108 million of capital from a diverse group of investors. In just two years since raising capital, GHIF has invested in seven companies for the development and manufacture of treatments for diseases such as cholera, river blindness, and parasitic worm infections, as well as diagnostic tests for tuberculosis, HIV, malaria, dengue, preeclampsia, and gestational diabetes. By the end of 2016, three portfolio companies had commercialized products.


Ascendis Health

CASE STUDY Ascendis Health: Bringing High-Quality Generic Pharmaceuticals and Medical Devices to over 100 Countries
health | December 2016

Ascendis Health is a South African company producing a range of health care products aimed at enabling a holistic approach to health, combining prevention and treatment. Its medical device division imports medical equipment and offers maintenance services in developing countries. Its pharmaceutical division distributes over 850 generic medications in emerging markets. In 2016, IFC made a $30 million investment in Ascendis to support its acquisition of a European generic pharmaceutical maker, with the goal of expanding access to affordable medications in developing countries.


Detecting Diseases with Personalized Radiology

CASE STUDY Alliar: A Highly Productive Business Model Benefits Millions of Patients in Brazil
health | July 2016

In 2012, IFC supported Alliar’s expansion with a $50 million loan. The company’s growth helped expand access to its diagnostic and laboratory services to 4.3 million patients, showing how innovative business models can increase efficiency and provide better health outcomes at lower cost to society.


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helping students afford the career of their dreams

Ideal Invest: Making University Accessible through Student Loans in Brazil
education | March 2016

Expanding access to quality and affordable education is a central element to eliminating extreme poverty and promoting shared prosperity. In Brazil, IFC’s client Ideal Invest provides affordable loans to students to pursue undergraduate, graduate and technical studies. Seventy percent of Ideal’s students are the 1st in their family to obtain degrees and 55 percent of them are women.


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a hotel is not just a place to sleep

tourism | March 2016

Tourism is a major contributor to employment, foreign exchange earnings, and tax revenues for developing countries. Hotels and tourism generate economic activity for small- and medium-sized businesses, which supply goods and services both during construction and operations. This study examines the developmental impact of three of IFC's hotel investments: the Mövenpick Ambassador Hotel in Ghana, the Azalaï Grand Hotel in Mali, and the Shangri-La group's Villingili hotel in Maldives.


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closing the skills gap for global tourism jobs

CCA and ASHA: Empowering Culinary and Hospitality Leaders in the Philippines
education | February 2016

Demand for skills in the booming Philippine tourism and hospitality industry is high. IFC client, The Cravings Group, is helping to meet it by preparing work-ready graduates in its culinary and hospitality schools, and providing thousands of young people access to a successful career and a pathway out of poverty.


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preventing blindness in china

Aier Eye Hospital: Efficient Management Leads to Clear Vision for Millions of Chinese
health | November 2015

China is home to 1/5 of the world's blind, many of whom suffer from treatable causes of blindness, like cataracts. IFC's client Aier Eye Hospital is reaching millions of Chinese to prevent blindness through its multi-tier network in 26 provinces. Its high-volume business model delivers quality eye care sustainably.


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Education Within Reach of All

UNIMINUTO: Bringing Entrepreneurship, Innovation and Jobs to Marginalized Communities in Colombia through Tertiary Education
education | April 2015

In Colombia, where 3.2 million secondary-school graduates don't have the opportunity to go on to higher education, quality private education can generate an important social impact. Corporación Universitaria Minuto de Dios (Uniminuto) works with industry and government to ensure programs are relevant to the needs of employers and graduates gain skills that are marketable in the workforce. Uniminuto has 100,000 students in over 30 locations, including in rural areas, and is focused on making education available to students from all backgrounds by keeping tuition comparatively low and offering affordable financing options.


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Student Finance

Learning from Global Best Practices and Financial Innovations
education | February 2015

Demand for university and vocational training has increased sharply across the globe over the last decade but too few students have access to the education they need to improve their lives. As public educational institutions struggle to increase capacity to meet this demand, many families are relying on private education. Unfortunately, private higher education can be unaffordable for low-income students. This report by IFC and Parthenon-EY explores innovative models for student finance in developing countries that are expanding access to private education, and that may even offer clues for resolving a crisis in student finance in the developed world.

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