International Finance Corporation (IFC), the private sector arm of the World Bank Group said it has provided long-term investments of about $18b this year for developing countries to enable their private sector play an essential role in the global effort to end extreme poverty and boost shared prosperity.
The IFC is the largest global development institution focused on the private sector in emerging markets. Working with more than 2,000 businesses worldwide, we use our capital, expertise, and influence, to create opportunity where it’s needed most.
In continuation of its investment in developing countries, the IFC has launched a $5 million programme to increase access to energy in Tanzania by developing a market for mini-grids. The initiative aims to bring affordable, off-grid renewable energy to households and businesses in rural Tanzania like General Electric, the American multinational conglomerate corporation is doing in rural areas in Nigeria.
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