2020 Trust Fund Annual Report

Private investment and private sector solutions will be essential to meet the WBG’s twin goals of ending extreme poverty by 2030 and boosting shared prosperity, especially given the longe-rterm economic impact of COVID-19. IFC’s efforts are centered on meeting this need through a holistic approach of creating markets and mobilizing private sector investment for development, with increased support for low income and fragile countries.

In March 2020, IFC secured support from its shareholders for an historic capital increase that will underpin IFC’s new Creating Markets strategy (IFC 3.0). With this new capital increase IFC’s goal is to more than double annual lending and investments by 2030. This ambitious goal includes own-account and mobilized amounts in private sector projects and companies; more than triple annual own-account investments in the poorest and most fragile countries (IDA and FCV countries); more than quintuple annual own account commitments in the poorest of the poor countries (Low-Income IDA countries and fragile and conflict-affected situations); triple the amount of annual climate-related own-account financing; and quadruple the amount of annual own-account financing dedicated to women and women-owned Small and Medium Enterprises (SMEs).

More details on page 75 »

 

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