2003 Annual Report : Innovation, Impact, Sustainability--IFC's Commitment
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Washington, DC
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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.
Palabras clave
BANKRUPTCY, CAPITAL MARKETS, CARBON, CARBON EMISSIONS, CLEAN DEVELOPMENT MECHANISM, CLIMATE, COMMERCIAL BANKS, CONTRACT ENFORCEMENT, CORPORATE GOVERNANCE, DEVELOPED COUNTRIES, ECONOMIC ACTIVITY, ECONOMIC DEVELOPMENT, ECONOMIC GROWTH, ECONOMIC SITUATION, EMERGING MARKETS, EMPLOYMENT, EQUITY INVESTMENTS, FAMILIES, FINANCIAL INSTITUTIONS, FINANCIAL MANAGEMENT, FINANCIAL MARKETS, FINANCIAL SECTOR, FISCAL YEAR, FORESTRY, HOUSING, INNOVATION, INSURANCE, INTEREST RATES, INTERMEDIARIES, INTERNATIONAL BANKS, LAWS, LIVING STANDARDS, LOCAL GOVERNMENTS, LOW INCOME, MICROFINANCE, MULTILATERAL DEVELOPMENT BANKS, NONPERFORMING LOANS, OPERATING INCOME, POLLUTION, PRIVATE SECTOR, PRODUCTIVITY, PROFITABILITY, PROJECT FINANCING, PROPERTY RIGHTS, QUALITY OF LIFE, REORGANIZATION, RETAINED EARNINGS, RISK MANAGEMENT, SCHOOLS, SECURITIZATION, SOCIAL ISSUES, SUSTAINABLE DEVELOPMENT, TECHNICAL ASSISTANCE, WORKERS, WORKING CAPITAL