International Finance Corporation

This report examines the support to private healthcare provision in India by the World Bank’s private sector arm, the International Finance Corporation (IFC). Despite supporting private healthcare in the country since 1997, no healthcare results for lending and investments have been disclosed since the start of these operations over twenty-five years ago.

Nadia Daar, Head of Oxfam International's Washington DC office, responds to the World Bank’s announcement today that it has appointed Mr. Makhtar Diop as the new CEO of its private sector arm, the International Finance Corporation (IFC).

Oxfam's Nadia Daar commented on the Bank and the IMF's progress on climate change, inequality, education, and more.

The World Bank and the International Monetary Fund cannot allow political and economic shocks to hijack their ambitions to combat climate change and curb inequality, warned Oxfam.

“This is great and sorely needed news at a time when the world faces a sobering set of challenges," said Nick Galasso, interim head of Oxfam International's Washington office.

Oxfam's verdict on the World Bank and International Monetary Fund Annual Meetings. 

The International Finance Corporation, the World Bank’s private lending arm, has little-to-no control over how around 90 percent of its investments into commercial banks and other financial institutions are used.

Over the past six years, the International Finance Corporation has channelled over $50bn to the financial sector. However, the evidence continues to grow that this private sector arm of the World Bank Group has little control over how a great deal of this money is spent.

Fifty one of the 68 companies that were lent money by the World Bank’s private lending arm in 2015 to finance investments in sub-Saharan Africa use tax havens, Oxfam revealed today.

Oxfam reacted to the World Bank's appointment of Philippe Le Houérou as CEO of their private sector arm, the International Finance Corporation.