IFC investment in small finance bank
Q. Which of the following statements is/are correct about International Finance Corporation (IFC)?
1. The International Finance Corporation (IFC) is an international financial institution that offers investment, advisory, and asset management services to encourage private sector development in developing countries.
2. The IFC is a member of the World Bank Group and is headquartered in Washington, D.C.- Published on 22 Sep 15a. Only 1
b. Only 2
c. Both
d. None
ANSWER: Both
IFC was established in 1956 as the private sector arm of the World Bank Group to advance economic development by investing in strictly for-profit and commercial projects that purport to reduce poverty and promote development.
The World Bank’s investment arm International Finance Corporation (IFC) has invested $145 million (around Rs 950 crore) in six of the 10 companies that have been granted small finance bank licences with a collective client base of nine million.
