highlightsfromthe ifC AnnuAlreport 2011
This is the year o the client. Our clients in the private sectormake IFC’s work real. Their partnership with us promotesdevelopment and helps create opportunity or the poor—andthey deserve special recognition or it.
They are innovators as much as entrepreneurs. They create jobs where you would not thinkpossible. They pioneer renewable energy projects. They provide ood or millions. They takeoneroom shops and transorm them into thriving international rms. In short, they make livesbetter. They are our clients—but more, our partners in development. They are individuals who,through their entrepreneurship, embody the imaginative ways in which we expand opportunityin developing countries and across the globe.Our clients help us achieve the ull impact o our investments. Over the past year, ourinvestment clients provided employment to about 2.4 million people—a record. They madenearly 10 million loans totaling about $140 billion to micro, small, and medium enterprises.They helped bring health care to 7.5 million patients. Our advice helped strengthen the capacityo over 9,000 armers and businesses in 71 countries.During my travels this year, I saw rsthand how IFC, together with its clients, is turningvolume into value and value into impact. Our investment clients contributed about $20 billionto government revenues and $36 billion to purchases in local economies. Considering that totalglobal aid ows are about $100 billion, it is clear that the work o IFC and our clients is having agiant impact in developing countries.In the past year, we mobilized more money than ever or development—$6.5 billion.New commitments reached $18.7 billion, which is more than double the size o our investments just ve years ago and reects an estimated project value o nearly $100 billion.IFC Asset Management Company, a wholly owned subsidiary, invested $682 million inIFC projects during the year—more than double the previous year’s tally. AMC, which is a undmanager or governments, pension unds, sovereign wealth unds, and others, now has about$4 billion under management.A vibrant and sustainable private sector needs more than just investment. To supportour clients, we oer over 25 years o experience in providing advisory services that improve theinvestment climate; oster vital publicprivate partnerships; raise environmental, social, andcorporate governance standards; build inclusive supply chains; and strengthen expertise.In FY11, Advisory Services project expenditures reached a record o over $200 million,about twothirds o which was attributable to clients in IDA countries. We have updated our Sustainability Framework ater an extensive, 18month consultationprocess with numerous stakeholders. We have also adopted a new strategy or the palm oil industry.Political leaders around the world increasingly recognize the leadership role IFC can playsupporting clients in private sector development. IFC is prominent in the Group o 20’s FinancialInclusion Initiative and is working to promote price hedging in the ood market, which G-20agricultural ministers agree can reduce volatility. We recently struck a deal with JPMorgan Chaseto provide $4 billion in pricerisk management or agricultural commodities. This will enablearmers to promote ood security.Events across the Middle East and North Arica are reminders that we are living in a worldo heightened political, social, and economic volatility. They are also reminders o the importanceo the private sector and job creation or equitable growth. These are countries with high youthpopulations, but also high unemployment.IFC and the Islamic Development Bank have suggested one innovative solution to thisproblem through the Education or Employment program, or e4e. We’re bringing together governments and companies to match education with necessary job skills. We look to mobilize $1.5 billionto $2 billion or the program over the next threeto ve years, unds that will support job creationacross the region.IFC’s strategy is working. And our strongcorporate values and vision position us well or2012 and beyond.Lars H. ThunellIFC Executive Vice Presidentand Chie Executive Ofcer
Leadership Perspectives
Letter from the IFC EVP and CEO—Lars Thunell
We invested nearly billion in more than projects in countries, o which . billion was or our own account. In addition, we mobilized nearly . billion rom other investors. OurAdvisory Services project expenditures totaled . million.Hal our investment projects—totaling . billion in commitments—and about twothirds o our Advisory Services projectexpenditures were in the poorest countries, those served by theInternational Development Association. We committed about billion or our own account in Latin America and the Caribbean. We also committed about . billion in Europe and Central Asia,about . billion in SubSaharan Arica, . billion in the MiddleEast and North Arica, . billion in East Asia and the Pacic, and million in South Asia.
IFC At a Glance
ifc operational HigHligHts 2011 2010 2009 2008 2007
Dollarsinmillions,asofandfortheyearsendedJune30
New Investment Commitments
Numberofprojects518528447372299Numberofcountries1021031038569ForIFC’sownaccount$12,186$12,664$10,547$11,399$8,220
Mobilization
Syndicatedloans
1
$4,680$1,986$1,858$3,250$1,775Structurednance$0$797$169$1,403$2,083IFCinitiatives&other$1,340$2,358$1,927n/an/aAssetManagementCompany$454$236$8n/an/aTotalmobilization$6,474$5,377$3,962$4,653$3,858
Investment Disbursements
ForIFC’sownaccount$6,715$6,793$5,640$7,539$5,841Syndicatedloans
2
$2,029$2,855$1,958$2,382$1,615
Committed Portolio
Numberofrms1,7371,6561,5791,4901,410ForIFC’sownaccount$42,828$38,864$34,502$32,366$25,411Syndicatedloans
1
$12,387$9,302$8,299$7,525$5,543
Advisory Services
Numberofprojects6427368728621,018Approvedvalue$820$859$941$919$846AdvisoryServicesprojectexpenditures$207$188$183$152$118
1IncludesB-Loans,ParallelLoans,andA-LoanParticipations.2IncludesB-LoansandAgentedParallelLoans.
Development Results
fy11 commitments by environmentaland social category
Category
1
Commitments Number o($ millions) Projects
A55410B2,975133C5,445246FI3,212129Total12,186518
1Seecategorydescriptionsonp.97oftheFY11AnnualReport.
development reacH by ifc’s investment clients
New BusinessPortolio Portolio ExpectationsCY09 CY10 FY11
4
Investments
Employment(millionsofjobs)2.22.40.2
Microfnance loans
1
Number(million)8.58.024.7
5
Amount($billions)10.7912.6213.73
5
SME loans
1
Number(million)1.51.71.0Amount($billions)101.32127.8249.12
Customers reached with services (millions)
Powergeneration
2
57.441.912.8Powerdistribution29.432.00.3Waterdistribution
3
26.620.10.4
6
Gasdistribution15.717.2n/aPhoneconnections169.3179.77.4Patientsreached7.67.52.6Studentsreached1.41.00.5Farmersreached2.12.51.2
Payments to suppliers and governments
Domesticpurchasesofgoodsand
services($billions)38.0239.517.47
Contribution to government revenues
orsavings($billions)20.0820.286.44
1Inmanycases,resultsalsoreectcontributionsfromIFCAdvisoryServices.
2 IFC has revised its methodology or estimating residential power customers served. Estimates or past years have been revised accordingly.
3CY09watergurehasbeencorrected.Itincluded7millioncustomersofsewageservices.4NewBusinessguresforallreachindicatorsotherthaninfrastructureortelecomarereportedastargetsandnotincrements.5ForFY11,expectedMicronancereachincludesoneprojectinSouthAsiathataccountsfor12millionloansand$4.2billionofoutstandingportfolio,by
March2016.6InFY11,inadditiontowaterdistributed,wealsoexpecttoreach1.6millionsewerageandwastewatercustomers.
fy11 development outcome by industry
Oil,Gas,&Mining23($1,119)83%Infrastructure74($2,798)77%Agribusiness&Forestry64($2,781)70%Funds63($829)68%FinancialMarkets196($15,123)66%Telecommunications&InformationTechnology25($692)64%Manufacturing69($2,447)59%Consumer&SocialServices68($1,396)59%IFCTotal582($27,184)67%
Numbersattheleftendofeachbararethetotalnumberofcompaniesrated.NumbersinparenthesesrepresenttotalIFCinvestment($millions)in
those projects.
fy11 development outcome by region
EastAsiaandthePacic86($4,024)76%LatinAmericaandtheCaribbean131($7,975)74%SouthAsia64($2,118)72%Sub-SaharanAfrica92($3,450)63%EuropeandCentralAsia134($6,582)60%MiddleEastandNorthAfrica66($2,853)56%IFCTotal582($27,184)67%
Numbersattheleftendofeachbararethetotalnumberofcompaniesrated.NumbersinparenthesesrepresenttotalIFCinvestment($millions)in
those projects.
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Highlights from IFC's 2011 Annual Report
This 4-page brochure provides highlights from IFC's 2011 Annual Report.
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