IFC - International Finance Corporation

Published purpose

This project with the International Finance Corporation (IFC) aims to support advisory services projects in developing countries to reduce poverty and encourage sustainable economic growth. This project builds on lessons learned from the existing Canada-IFC Partnership Fund established in March 2013. CIPF II will expand on the efforts of CIPF I with a focus on three new themes: catalyzing private sector investment in clean energy & energy efficiency; stimulating job creation through growing and supporting small and medium-enterprises (SMEs); and addressing critical inhibitors to overall economic growth by promoting women’s economic empowerment. Canada’s support leverages IFC’s comparative advantages, including its capacity to engage the private sector, stimulate job creation and facilitate access to markets for entrepreneurs and small businesses in developing and emerging economies. Project activities include: (1) providing technical advisory services to private sector institutions and local organizations such as companies, industries, and governments; (2) mobilizing private sector investment in resource efficient practices and technologies to build economies which are more competitive and sustainable; (3) supporting innovative business models in sectors where clean energy and energy efficiency opportunities have not been fully developed; and (4) providing capacity development and access to financing and new markets for women entrepreneurs and providing training and better employment opportunities for women and youth. The IFC, as the private sector arm of the World Bank Group (WBG), is the largest global development institution focused exclusively on the private sector in developing countries. IFC provides financing for private sector projects in the form of loans and equity positions where sufficient private capital cannot be obtained from other sources on reasonable terms (investment services). It also delivers advice and technical assistance to businesses and governments (advisory services).