International Finance Corporation (IFC)

International Finance Corporation (IFC)

This was incorporated in 1956 to help the development of private enterprise in different countries. It supplements the activities of the World Bank. IFC helps the private sector in many ways. Financing their projects through loans and by way of subscription to equity. It also provides technical assistance to private enterprise. It also tries to bring private capital and private
management together by creating conditions conducive to the flow of private capital. It does not insist upon government guarantee and generally takes up more risks than its counter parts.
The Multinational Investment Guarantee Agency (MIGA) insures cross-boarder investments from one member country into another member country, charging a fee for the cover provided by them. Our country has recently become a member of MIGA.
The regional development banks: like the Manila based Asian Development Bank (ADB) also functions more or less on the same lines as the World Bank Group. The ADB gives project finance, out of resources raised on the capital markets. It also has a soft loan fund whose resources come from donor countries in the IDA. Since the formation of the ADB, for
many years, as a matter of policy, India had agreed not to borrow funds so that the resources are available to the smaller ADB members. However, in recent years our country has
started availing ADB loans, but both India and China have agreed not to ask for ADB funds under the soft loan.

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