Ifc Annual Report 2021

International Finance Corporation (IFC), a member of the World Bank Group, is the largest global development institution focused on the private sector in emerging markets and developing economies. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities for better lives. In fiscal year 2021, we invested $31.5 billion in total commitments, including $23.3 billion in long-term finance and $8.2 billion in short-term finance, to private companies and financial institutions in emerging and developing economies, leveragingthe power of the private sector to end extreme poverty and boost shared prosperity. For more information, visit www.ifc.org.

In 2011 the World Bank—with funding from the Bill and Melinda Gates Foundation—launched the Global Findex database, the world's most comprehensive data set on how adults save, borrow, make payments, and manage risk. Drawing on survey data collected in collaboration with Gallup, Inc., the Global Findex database covers more than 140 economies around the world. The initial survey round was followed by a second one in 2014 and by a third in 2017. Compiled using nationally representative surveys of more than 150,000 adults age 15 and above in over 140 economies, The Global Findex Database 2017: Measuring Financial Inclusion and the Fintech Revolution includes updated indicators on access to and use of formal and informal financial services. It has additional data on the use of financial technology (or fintech), including the use of mobile phones and the Internet to conduct financial transactions. The data reveal opportunities to expand access to financial services among people who do not have an account—the unbanked—as well as to promote greater use of digital financial services among those who do have an account. The Global Findex database has become a mainstay of global efforts to promote financial inclusion. In addition to being widely cited by scholars and development practitioners, Global Findex data are used to track progress toward the World Bank goal of Universal Financial Access by 2020 and the United Nations Sustainable Development Goals. The database, the full text of the report, and the underlying country-level data for all figures—along with the questionnaire, the survey methodology, and other relevant materials—are available at www.worldbank.org/globalfindex.

The audited financial statements that follow form Appendix VI of the International Monetary Fund's Annual Report 2021 and can be found, together with Appendixes I through V and other materials, on the Annual Report 2021 web page (www.imf.org/AR2021). They have been reproduced separately here as a convenience for readers. Quarterly updates of the IMF's Finances are available at www.imf.org/external/pubs/ft/quart/index.htm.

IFC - a member of the World Bank Group -)is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2022, IFC committed a record $32.8 billion to private companies and financial institutions in developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity as economies grapple with the impacts of global compounding crises.

This first report deals with some of the major development issues confronting the developing countries and explores the relationship of the major trends in the international economy to them. It is designed to help clarify some of the linkages between the international economy and domestic strategies in the developing countries against the background of growing interdependence and increasing complexity in the world economy. It assesses the prospects for progress in accelerating growth and alleviating poverty, and identifies some of the major policy issues which will affect these prospects.

More than 200 million people in the developing world were out of work this year. Over 1 billion are hungry, while millions more are confronting the threat that climate change poses. The United Nations estimates that 884 million people don't have safe drinking water and more than 2.6 billion people lack basic sanitation. The population of the developing world will expand by a third over the next four decades, growth that will strain already weak infrastructure. In this environment, International Finance Corporation (IFC) is innovating to create opportunity where it's needed most. IFC committed a record $18 billion in fiscal year 2010, $12.7 billion of which was for own account. We invested in 528 projects, an 18 percent increase from FY09. Advisory Services portfolio comprised 736 active projects valued at more than $850 million, with annual expenditures totaling $268 million. Countries served by the International Development Association, or IDA, accounted for nearly half our investments 255 projects totaling $4.9 billion and more than 60 percent of Advisory Services expenditures. Sub-Saharan Africa accounted for 19 percent of our investment commitments and 25 percent of Advisory Services expenditures. The invested a record $1.64 billion in clean energy, leveraging $6.8 billion, while climate change related projects grew to 15 percent of the value of our Advisory Services portfolio. The investments in microfinance rose 10 percent to $400 million, expanding microfinance portfolio to $1.2 billion.