IFC - International Finance Corporation

Objet publié

This project seeks to increase the ability of the private sector to achieve sustainable development results . The Canada-International Finance Corporation Partnership Fund supports private sector development initiatives to reduce poverty and promote sustainable economic growth in developing countries. The project supports the delivery of advisory services in the finance and extractive sectors. The project seeks to help partner countries regulate and expand access to financial services to increase business competitiveness, increase economic participation, and reduce poverty. It also seeks to help partner countries improve the development potential of their natural resources by supporting natural resource governance, economic diversification, and community engagement to reduce poverty through mining operations. Women’s economic empowerment will be a theme in both finance and extractive sector activities in order to maximize women’s access to finance, entrepreneurship support, and employment opportunities. Leveraging the power of the private sector can achieve sustainable development results. Robust businesses, including those in the extractive and financial sectors, create opportunities for workers and their families, local communities, governments, suppliers, investors and the customers who buy their products. The private sector creates about 90% of developing country jobs. Quality work provides livelihoods for individuals and their families, which facilitates cohesive communities and economic prosperity. By increasing the capacity of the private sector, economic growth accelerates and its dividends can be reinvested in other development projects. The Fund finances such activities as (i) developing tools to support government, private sector, and civil society partnerships to address social and environmental issues; (ii) developing frameworks to help firms determine and manage their role and relationship with artisanal miners near their operations; (iii) building the capacity of bank and non-bank financial institutions to support lending for micro-, small-, and medium- enterprises; (iv) deploying innovative channels, such as mobile banking; and (v) training women entrepreneurs in financial literacy and business management.