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Consider the following statements regarding International Finance Corporation (IFC).
1. It was established as the private sector arm of the International Monetary Fund (IMF).
2. It offers investment, advisory, and asset management services to encourage private sector development in developing countries.
Which of the above statements is/are correct?
- a)1 only
- b)2 only
- c)Both 1 and 2
- d)Neither 1 nor 2
Correct answer is option 'B'. Can you explain this answer?
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Consider the following statements regarding International Finance Corp...
International Finance Corporation (IFC)
- It is an international financial institution that offers investment, advisory, and asset management services to encourage private sector development in developing countries.
- It 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.
- The IFC is owned and governed by its member countries, but has its own executive leadership and staff that conduct its normal business operations.
- It is a corporation whose shareholders are member governments that provide paid-in capital and which have the right to vote on its matters.
- Since 2009, the IFC has focused on a set of development goals that its projects are expected to target. Its goals are to increase sustainable agriculture opportunities, improve healthcare and education, increase access to financing for microfinance and business clients, advance infrastructure, help small businesses grow revenues, and invest in climate health.
- It offers an array of debt and equity financing services and helps companies face their risk exposures while refraining from participating in a management capacity.
Most Upvoted Answer
Consider the following statements regarding International Finance Corp...
International Finance Corporation (IFC)
Statement 1: It was established as the private sector arm of the International Monetary Fund (IMF).
Statement 2: It offers investment, advisory, and asset management services to encourage private sector development in developing countries.
The correct answer is Option B: 2 only because Statement 1 is incorrect.
Explanation:
About International Finance Corporation (IFC):
The International Finance Corporation (IFC) is an international financial institution that is a member of the World Bank Group. It was established in 1956 and is headquartered in Washington, D.C., United States.
Statement 1: It was established as the private sector arm of the International Monetary Fund (IMF).
This statement is incorrect. The International Finance Corporation (IFC) is not the private sector arm of the International Monetary Fund (IMF). The IMF and the IFC are two separate entities. While the IMF focuses on macroeconomic stability and provides financial assistance to countries facing balance of payments problems, the IFC's main objective is to promote private sector investment in developing countries.
Statement 2: It offers investment, advisory, and asset management services to encourage private sector development in developing countries.
This statement is correct. The primary objective of the International Finance Corporation (IFC) is to promote private sector development in developing countries. It achieves this by offering a range of services including investment, advisory, and asset management services. The IFC provides financing to private sector companies in developing countries, supports infrastructure projects, and provides advisory services to help businesses improve their operations and governance practices.
The IFC also plays a crucial role in mobilizing private capital for development by partnering with commercial banks, institutional investors, and other private sector entities. It focuses on sectors such as agribusiness, manufacturing, financial services, infrastructure, and renewable energy, among others.
In conclusion, the correct answer is Option B: 2 only as Statement 1 is incorrect and Statement 2 is correct.
Statement 1: It was established as the private sector arm of the International Monetary Fund (IMF).
Statement 2: It offers investment, advisory, and asset management services to encourage private sector development in developing countries.
The correct answer is Option B: 2 only because Statement 1 is incorrect.
Explanation:
About International Finance Corporation (IFC):
The International Finance Corporation (IFC) is an international financial institution that is a member of the World Bank Group. It was established in 1956 and is headquartered in Washington, D.C., United States.
Statement 1: It was established as the private sector arm of the International Monetary Fund (IMF).
This statement is incorrect. The International Finance Corporation (IFC) is not the private sector arm of the International Monetary Fund (IMF). The IMF and the IFC are two separate entities. While the IMF focuses on macroeconomic stability and provides financial assistance to countries facing balance of payments problems, the IFC's main objective is to promote private sector investment in developing countries.
Statement 2: It offers investment, advisory, and asset management services to encourage private sector development in developing countries.
This statement is correct. The primary objective of the International Finance Corporation (IFC) is to promote private sector development in developing countries. It achieves this by offering a range of services including investment, advisory, and asset management services. The IFC provides financing to private sector companies in developing countries, supports infrastructure projects, and provides advisory services to help businesses improve their operations and governance practices.
The IFC also plays a crucial role in mobilizing private capital for development by partnering with commercial banks, institutional investors, and other private sector entities. It focuses on sectors such as agribusiness, manufacturing, financial services, infrastructure, and renewable energy, among others.
In conclusion, the correct answer is Option B: 2 only as Statement 1 is incorrect and Statement 2 is correct.
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Consider the following statements regarding International Finance Corporation (IFC).1. It was established as the private sector arm of the International Monetary Fund (IMF).2. It offers investment, advisory, and asset management services to encourage private sector development in developing countries.Which of the above statements is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'B'. Can you explain this answer?
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