The exhibition "Creation of opportunities where it’s necessary", dedicated to the 60th anniversary of the International finance corporation runs in the documents of international organizations reading room (207g) from January 12 to February 9.
The International Finance Corporation, IFC is an international financial institution that is a member of the World Bank Group. The organization was created in 1956 for the offer of loans and participation financing of projects aimed at the development of the private sector of developing countries. The IFC includes 184 states that determine its policy and approve investment projects. The main goal of the corporation is the assistance to the stable flow of investments to the private sector of developing countries to reduce poverty and improve the living standards of these countries.
The IFC coordinates its activities with other organizations that are members of the World Bank Group but is legally and financially an independent organization, which has its own Articles of Agreement, share capital, management and staff unit.
The Board of governors where member states appoint its representatives possesses the corporate powers in the IFC. Share capital of the IFC consists of paid fees of member states and voting rights are allocated in proportion to the number of units of the share participation belonging to a country. The registered amount of the authorized capital of the IFC is 2.45 billion US dollars. The organization is headquartered in Washington, D.C., United States.
Activities of the corporation in more than 100 developing countries allows companies and financial institutions to create workplaces at emerging markets, provide tax revenue, improve corporate management and ecological performance rates and assist local communities.
The IFC carries out granting of loans, investment in the form of equity capital, offers structured financing and products on risk management, provides advisory services and technical assistance to stimulate growth of the private sector in developing countries. The source of money of the IFC is fees of member states, emission of obligations at the international financial market and revenue from its operations performance.
The Republic of Belarus was the first country in the CIS to sign in November 1992 necessary agreements and became a member of the World Bank and its administered structures, including the IFC. Due to sustainable partner relations with the IFC Belarus got an opportunity to use its potential for timely and successful reforming of economy into the market one. In 1993 the IFC started programs on consulting assistance to our country, which benevolently influenced the development of private sector and facilitated positive changes in the business climate of the country according to the invitation of the Belarusian government. Since 2004 relations of the IFC and Belarus are on a new level. The organization began in the country investment activities, that every year reinforces its positions. Today the IFC’s total amount of investment in the economy, including projects in the banking, manufacturing, agro-industrial sectors, as well as in the service sector, is more than 316 million US dollars. Our government intends to continue to consistently develop cooperation with the IFC in accordance with the national interests. This commitment is based on the understanding that maintaining of relations with international financial institutions is an essential condition for speedy reform of the national economy and its successful integration into the world economy.
The exhibition presents more than 50 documents in Russian and English: books, leaflets, periodicals, booklets.
The exposition includes the following sections:
- International Finance Corporation: past and present.
- Main activities of the IFC.
- Investment projects and programs of the IFC in Belarus.
The exhibition is interesting to financial specialists, entrepreneurs, researches of small and medium business, students and teachers of economical and financial specializations.
Useful links
- The World Bank Group:
- Russian web site of the IFC
- Board of governors
- President of the World Bank Group
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