Finance institutions critical for job creation
30/09/2011
New report finds international finance institutions critical for job creation in emerging markets. The report was launched during the World Bank Annual meetings on 23 September.
A new report finds that international finance institutions play a key role in catalyzing job creation and growth through the private sector in emerging markets, particularly as governments face increased pressure on public resources.
The report, International Finance Institutions and Development through the Private Sector, was launched during the World Bank-IMF Annual Meetings. It was produced by 31 international finance institutions (IFIs). Senior officials of more than 20 IFIs attended the launch event.
Key findings of the report are:
IFIs provide the private sector in developing countries with critical capital and knowledge. Private sector direct foreign investment finance has reached over USD 40 billion in commitments a year–about five percent of capital flows to emerging markets.
IFIs help companies set standards and manage risk in areas such as environmental and social standards; corporate governance; health and safety, sponsor and business integrity; labor and human rights; revenue transparency; and international financial reporting.
IFIs catalyze additional financing from other private sector players. Each USD 1 of capital supplied to IFI’s can lead to USD 12 in private sector project investment
IFIs support entrepreneurship and innovation, helping demonstrate the viability of private solutions in new or challenging areas.
The report was initiated under the sponsorship of the Private Sector Development Institutions Roundtable, an annual meeting of the heads of IFIs that focus on the private sector.
Download EDFI Press Release:
11_09_23_Press_Release_IFI_Report.pdf
(51.12 kilobytes)
Download report:
IFI_and_Development_Trough_the_Private_Sector.pdf
(2.76 megabytes)
