The International Finance Corporation (IFC) is a private sector lending arm of the World Bank Group, providing financial services to businesses investing in the developing world. IFC is one of the fastest growing institutions in the World Bank Group, with a committed portfolio of over USD 16.8 billion as of June 2003. For more information, see BIC's web page on the International Finance Corporation.
While the IFC is a public entity, its clientele consists of transnational, national, and local private sector companies, operating in a competitive and fast-moving business environment. The operations of these private enterprises often privilege "business confidentiality" over the public's right to know. As a result, it is frequently difficult for the public to measure or influence the development impacts of the IFC's activities. While IFC has made some important gains in transparency in recent years, its information disclosure and public consultation processes leave ample room for improvement.