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Which sister organisation of the World Bank helps private activity in developing countries by financing projects with long-term capital in the form of equity and loans ?
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- Asian Development Bank
- IMF
- International Finance Corporation
- International Development Association
Correct Option: C
The International Finance Corporation (IFC) is an international financial institution that offers investment, advisory, and asset management services to encourage private sector development in developing countries. The IFC 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-profit and commercial projects that purport to reduce poverty and promote development.
