2003 Annual Report : Innovation, Impact, Sustainability--IFC's Commitment, Volume 2
This annual report reviews the International Finance Corporation's (IFC) operations activity during FY03, a period that emphasized coordination, and mutually reinforcing efforts among World Bank Group units, particularly in pursuing private se...
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| Format: | Publication |
| Language: | English en_US |
| Published: |
Washington, DC
2013
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| Online Access: | http://documents.worldbank.org/curated/en/2003/06/2624639/international-finance-corporation-ifc-annual-report-2003-innovation-impact-sustainability-commitment-vol-2-3-second-volume http://hdl.handle.net/10986/14280 |
| Summary: | This annual report reviews the
International Finance Corporation's (IFC) operations
activity during FY03, a period that emphasized coordination,
and mutually reinforcing efforts among World Bank Group
units, particularly in pursuing private sector development
in client countries. The report stresses the need for
support of IFC's priorities, including emerging, and
frontier markets, technical assistance, and advisory
services to help improve investment climates, and small and
medium enterprises. Also underscored, is the significance of
IFC's presence in difficult, country environments as a
central component of its development mandate, while
IFC's counter-cyclical role in the face of heightened
investor uncertainty, and volatility of capital flows to
developing countries, is recognized, as is the
Corporation's performance within the annual portfolio
performance review, despite continued difficulty in the
global economic environment. IFC's financial management
is reviewed, and its leadership for protecting the
Corporation's financial integrity, without compromising
its development mandate, was commendable, though the need to
maintain profitability, while increasing development
impacts, is stressed. The report presents financial
highlights, particularly outlining IFC's commitment to
innovation, impact, and sustainability, and further
identifies the period's operational, and regional
outlook. The annual review also summarizes the financial and
portfolio reviews, as well as technical assistance and
advisory services during FY03. |
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