IFC

The International Finance Corporation (IFC) promotes sustainable private sector investment in developing countries.

IFC is a member of the World Bank Group and is headquartered in Washington, DC. 

Established in 1956, IFC is the largest multilateral source of loan and equity financing for private sector projects in the developing world. It promotes sustainable private sector development primarily by:

Financing private sector projects and companies located in the developing world.

Helping private companies in the developing world mobilize financing in international financial markets.

Providing advice and technical assistance to businesses and governments.

IFC has 182 member countries, which collectively determine its policies and approve investments. To join IFC, a country must first be a member of the International Bank for Reconstruction and Development (IBRD). IFC's corporate powers are vested in its Board of Governors, to which member countries appoint representatives. IFC's share capital, which is paid in, is provided by its member countries, and voting is in proportion to the number of shares held. As of June 30, 2010 and 2009, IFC’s authorized capital(the sums contributed by its members over the years) was $2.45 billion, of which $2.37 billion was subscribed and paid in.

The Board of Governors delegates many of its powers to the Board of Directors, which is composed of the Executive Directors of the IBRD, and which represents IFC's member countries. The Board of Directors reviews all projects.

The President of the World Bank Group, Robert Zoellick, also serves as IFC's president. IFC's CEO and Executive Vice President, Lars H. Thunell, is responsible for the overall management of day-to-day operations. He was appointed on January 15, 2006.

Although IFC coordinates its activities in many areas with the other institutions in the World Bank Group, IFC generally operates independently as it is legally and financially autonomous with its own Articles of Agreement, share capital, management and staff.

Membership

International Finance Corporation member states

Members of the IFC are 181 of the UN members and Kosovo.

Non-members are: Andorra, Brunei, Cook Islands, Cuba, Liechtenstein, Monaco, Nauru, Niue, North Korea, Saint Vincent and the Grenadines, San Marino, Tuvalu and Vatican City. The remaining non-members are all states with limited recognition.

Source : wikipedia