International Finance Corporation

International

Type: International
Date approved: 07 Mar 2016
Size: Large
ESS Category: Category A, Intermediation 1
Fiduciary standards: Basic, Project management, Grant award, On-lending/blending (Loan), On-lending/blending (Equity), On-lending/blending (Guarantee)

The International Finance Corporation (IFC) headquartered in the United States of America, is an international organization with a strong global presence and focus on development, primarily in the private sector. Established in the 1950s, IFC works in over 100 developing countries through the private sector, with a special focus on infrastructure, manufacturing, agribusiness, services and financial markets. The climate investment portfolio of IFC has reached US$ 13 billion, with a track record in wind and solar projects globally. Its experiences in leveraging, mobilizing and intermediating climate funds and programmes for green growth has allowed it to help unlock private climate investment using blended finance. In addition to investments in climate projects, IFC also provides technical assistance or advisory services to private and public sector clients to promote sound environmental, social, governance and industry standards; catalyse investment in clean energy and resource efficiency; and support sustainable supply chains and community investment. With its experience in investing, mobilizing and intermediating climate finance to promote private sector projects at scale for both mitigation and adaptation in developing countries, IFC sought accreditation to the GCF to contribute its experience and capacity to deliver to support the mandate of the GCF to promote a paradigm shift towards low-emission and climate-resilient development.