International Finance Corporation (IFC)

Endiya Partners Fund II, a city-based venture capital fund has received a commitment of Rs 75 crore ($10M approx.) from the International Financial Corporation (IFC), a member of the World Bank Group.

IFC

• It is a member of the World Bank Group and is headquartered in Washington, D.C. United States.
• It was established in 1956 as the private sector arm of the World Bank Group to advance economic development by investing in strictly for-profi t and commercial projects that purport to reduce poverty and promote development.
• The IFC is owned and governed by its member countries, but has its own executive leadership and staff that conduct its normal business operations.
• It is a corporation whose shareholders are member governments that provide paid-in capital and which have the right to vote on its matters.
• The IFC has focused on a set of development goals that its projects are expected to target. Its goals are to increase sustainable agriculture opportunities, improve healthcare and education, increase access to financing for microfi nance and business clients, advance infrastructure, help small businesses grow revenues, and invest in climate health.
• It offers an array of debt and equity financing services and helps companies face their risk exposures while refraining from participating in a management capacity.
• It advises governments on building infrastructure and partnerships to further support private sector development.