An affiliate of the International Bank for Reconstruction and Development (IBRD) established in 1956 to provide assistance for private investment projects. Although the IFC and IBRD are separate entities, both legally and financially, the IFC is able to borrow from the IBRD and reloan to private investors. The headquarters of the IFC are in Washington. Its importance increased in the 1980s after the emergence of the debt crisis and the subsequent reliance on the private sector.
Subjects: Financial Institutions and Services.