Can IFC rise to its next challenge? (Devex)

By Sophie Edwards 

WASHINGTON — Having pulled off a surprise victory to secure a large chunk of the World Bank Group’s capital increase earlier this year, the International Finance Corporation is now gearing up to tackle the “huge challenges” involved in meeting the terms of the deal, especially around upping its investments in fragile and conflict-affected countries. 

The bank’s private-sector lender was given a $5.5 billion boost as part of a broader $13 billion paid-in capital increase announced by the World Bank’s board of governors two months ago.  The deal marks IFC’s first significant increase since 1992 — bank insiders told Devex it seemed unlikely just a few months ago.

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Furthermore, recent analysis of IFC’s portfolio by the Center for Global Development showed it has been investing less in low-income countries in recent years. 

Read the full article here.