Funding Program Factsheet
Impact Investing in Capital Markets

IFC’s Funding Program

About IFC

IFC raises funds through capital markets to drive inclusive and sustainableeconomic growth in developing countries while maintaining our triple-A credit
ratings. Our diverse issuances include benchmark bonds in core currencies,
thematic issuances, and emerging market currency issuances to foster capital
market development. We primarily lend in U.S. dollars but borrow in various
currencies to enhance access to funding sources and reduced costs, and tosupport local capital markets.

IFC, a member of the World

Our Funding Program has expanded alongside lending activities, with an annual
target of up to $15 billion for FY25 (excluding discount notes).

and influence to create markets

Bank Group, is the largest
global development institution
focused on the private sector
in emerging markets. We workin more than 100 countries,
using our capital, expertise,and opportunities in developingcountries. In fiscal year 2024,

Our funding strategy focuses on:

IFC committed a record $56•

Establishing a regular presence in our core capital markets.

billion to private companies•

Ensuring access to a wide range of capital markets to benefit from
opportunistic and competitively priced transactions.

and financial institutions in•

Promoting the development of emerging capital markets by issuing bonds
in local currencies, often in domestic markets.

•

Supporting the growth of our green and social bond eligible projects.

developing countries, leveraging
private sector solutions andmobilizing private capital tocreate a world free of poverty ona livable planet.

To enhance flexibility and cost effectiveness, borrowings are diversified acrosscurrencies, countries, investor types, and maturities. In FY24, IFC borrowed in
22 currencies and in final maturities ranging from 1 to 28 years.
The U.S. dollar market was IFC’s largest source of funding in FY24, accounting
for 44% of total volume. IFC is a regular issuer of U.S. dollar benchmark bonds,entering the market at least once per year with trades typically ranging
between $1 and $2 billion. IFC issues benchmark size bonds in several othercurrencies, including the Australian dollar, Canadian dollar, New Zealand dollar,and British pound.
FIGURE 1: FY24 Borrowings By Currency (US$ billions)

5.7

2.5

2.4

0.9

0.7

USD

AUD

GBP

CAD

0.3

0.2

0.2

NZD

SEKCNY* OTHERS INCLUDES NOK, HKD, COP, ZAR, KRW, EUR, MXN, KZT, AZN, ZMW, JMD, CLP, UZS, DOP, BDT

OTHERS*

The IFC’s market access is very
robust and highly diversified,resulting in a “AAA” score
for the quality and depth ofmarket access. The corporation
is a pioneer when it comes todiversifying its funding andopening new sources of funding…
The IFC also actively uses
buybacks and early redemptions ofits bonds to provide liquidity to themarket. Its extensive funding tool
kit has allowed the IFC to cultivatea very large and diversified
investor base, including retailinvestors in the US and Japan.
MOODY’S INVESTORSERVICES, January 2024.

FIGURE 2: FY24 Borrowings By Market

25%

AAA Rating
Considerations

MTN
FRN

BORROWINGSBY MARKET

2%

Owned by 186 member
countries, with over
50% of capital owned by
AAA/AA sovereigns.

•Strong capital position
primarily raised throughretained earnings fromsteady profits since 1956.

•

Substantial liquidity buffer
with highly conservativeliquidity coverage ratio (LCR)
and leverage ratios.

•Diverse investor basewith reliable access tothe deepest global
capital markets.

•

Highly diversified debt
and equity portfoliowith exposure spanning
118 countries and over
2,000 companies.

•

Consistently rated AAA/Aaa
by S&P and Moody’s since its
first assessment in 1989.

•

Assigned a 0% risk
weighting under theBasel Framework.

0.5%
LOCAL CURRENCY(UNSWAPPED)CORE PUBLIC

72%•

IFC’s Green and Social Bond Programs
The green bond program, launched in 2010, has raised$13.9 billion across 21 currencies by FY24.

The social bond program, launched in 2017, has raised$8.4 billion across 14 currencies by FY24.

Our Value Proposition•

IFC’s mission as part of the World Bank Group is to end extreme poverty andboost shared prosperity on a livable planet.

•We promote sustainable growth through investments in the private sector ofdeveloping countries.

•IFC has more than six decades of experience mobilizing resources in capital
markets to support economic growth and development in emerging markets.

•IFC plays a countercyclical role during times of economic and financial uncertainty.

•We provide advisory services across a wide range of sectors, including
renewable energy, agriculture, health, education, and financial markets, todeveloping economies.

This document does not constitute an offer or recommendation to purchase any notes issued by IFC.

Photo credit: IFC/Dominic Chavez

Funding and Investor Relations Contacts
GLOBAL HEAD OF FUNDING
Flora Chao | fchao@ifc.org

WASHINGTON D.C.
Yuri Kuroki
Head of Funding Americas
ykuroki@ifc.org
Zauresh Kezheneva
Financial Officer
zkezheneva@ifc.org

WASHINGTON D.C.
Investor Relations
Ayelet Perlstein
Head of Investor Relations
aperlstein@ifc.org
Obert Limbani
Associate Financial Officerolimbani@ifc.org
Marsha Monteiro
Financial Analyst
mmonteiro@ifc.org

LONDONSINGAPORE

Elena Panomarenko
Head of Funding - Europe
epanomarenko@ifc.org

Marcin Bill
Head of Funding - Asia
mbill@ifc.org

Roland Maassen
Associate Financial Officer
rmaassen@ifc.org

Hiroyasu Hirano
Financial Officer
hhirano@ifc.org

Investor Relations
Laura Stirling
Digital and Communication
Coordinatorlstirling@ifc.org

International Finance Corporation 2121 Pennsylvania Avenue NW, Washington, DC 20433
www.ifc.org | www.ifc.org/investors

TOKYOInvestor Relations
Yutaka Yasui
Senior Financial Officer
yyasui@ifc.org