IFC Invests $5 Billion in Fiscal Year 2018 to Spur Development in Latin America and the Caribbean

IFC, a member of the World Bank Group, bolstered its operations in Latin America and the Caribbean with investment commitments that reached $5 billion to help drive the region’s sustainable economic growth, promote innovation and build new infrastructure. 

IFC invested about $2.5 billion from its account and mobilized another $2.5 billion from other investors during its fiscal year 2018, which ended in 30 June. The investments were geared at supporting the region’s private sector to create new jobs, tackle climate change and provide financing to small business owners. After years of economic slowdown and recession, growth in Latin America and the Caribbean is expected to accelerate in 2019. However, the region remains one of the most unequal in the world, with increasing demands for better services, jobs, education and financial inclusion.