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<br /> Munira Shonibare, Founder/Executive Director,<br /> IO Furniture, Nigeria<br /> Wandee Khunchornyakong, President,<br /> Solar Power Co., Thailand<br /> I AM<br /> OPPORTUNITY<br /> IFC ANNUAL REPORT 2011<br /> Gyanesh Pandey, Founder/CEO, Husk Power Systems, India<br /> Anwar Jayyosi, Managing Director, Palestine for Credit and<br /> Development (FATEN), West Bank and Gaza<br /> LOOKING AT OUR WORK THROUGH MULTIPLE LENSES<br /> Private sector development is a challenge of considerable complexity. As a global institution, we embrace<br /> that complexity.<br /> IFC tackles the most pressing development challenges, approaching them in ways that are responsive to the<br /> needs of all our stakeholders—from the governments that comprise our shareholders to our sister organizations<br /> within the World Bank Group to the wide array of clients and partners who share our commitment to create<br /> opportunity where it's needed most. Being responsive requires <a title="IFC Annual Report 2011 page 1" href="http://viewer.zmags.com/publication/88f6cd6b?page=1"> Munira Shonibare, Founder/Executive Director, IO </a> <a title="IFC Annual Report 2011 page 2" href="http://viewer.zmags.com/publication/88f6cd6b?page=2"> LOOKING AT OUR WORK THROUGH MULTIPLE LENSES </a> <a title="IFC Annual Report 2011 page 3" href="http://viewer.zmags.com/publication/88f6cd6b?page=3"> ABOUT IFC OUR MATERIALITY TOPICS W</a> <a title="IFC Annual Report 2011 page 4" href="http://viewer.zmags.com/publication/88f6cd6b?page=4"> Leadership Perspectives Letter from the World Ban</a> <a title="IFC Annual Report 2011 page 5" href="http://viewer.zmags.com/publication/88f6cd6b?page=5"> At the same time, IFC Asset Management Co</a> <a title="IFC Annual Report 2011 page 6" href="http://viewer.zmags.com/publication/88f6cd6b?page=6"> Leadership Perspectives Letter from the IFC EVP a</a> <a title="IFC Annual Report 2011 page 7" href="http://viewer.zmags.com/publication/88f6cd6b?page=7"> their investment climates. We helped strengthen t</a> <a title="IFC Annual Report 2011 page 8" href="http://viewer.zmags.com/publication/88f6cd6b?page=8"> Contents INTRODUCTION: I AM OPPORTUNITY P1–7</a> <a title="IFC Annual Report 2011 page 9" href="http://viewer.zmags.com/publication/88f6cd6b?page=9"> 1 IFC WORKS TO PROVIDE OPPORTUN</a> <a title="IFC Annual Report 2011 page 10" href="http://viewer.zmags.com/publication/88f6cd6b?page=10"> 2 $1.7 billion in energy-efficiency and renewable-</a> <a title="IFC Annual Report 2011 page 11" href="http://viewer.zmags.com/publication/88f6cd6b?page=11"> 2.5 million farmers reached worldwide in CY10 </a> <a title="IFC Annual Report 2011 page 12" href="http://viewer.zmags.com/publication/88f6cd6b?page=12"> 4 4.3 million power customers reached in South As</a> <a title="IFC Annual Report 2011 page 13" href="http://viewer.zmags.com/publication/88f6cd6b?page=13"> 1.5 million loans to micro, small, and medium ent</a> <a title="IFC Annual Report 2011 page 14" href="http://viewer.zmags.com/publication/88f6cd6b?page=14"> 6 More than 241,000 micro, small, and medium ente</a> <a title="IFC Annual Report 2011 page 15" href="http://viewer.zmags.com/publication/88f6cd6b?page=15"> $4.9 billion committed for 251 projects in IDA co</a> <a title="IFC Annual Report 2011 page 16" href="http://viewer.zmags.com/publication/88f6cd6b?page=16"> 8 </a> <a title="IFC Annual Report 2011 page 17" href="http://viewer.zmags.com/publication/88f6cd6b?page=17"> 9 IFC FINANCIAL HIGHLIGHTS </a> <a title="IFC Annual Report 2011 page 18" href="http://viewer.zmags.com/publication/88f6cd6b?page=18"> 10 1 IFC's Global </a> <a title="IFC Annual Report 2011 page 19" href="http://viewer.zmags.com/publication/88f6cd6b?page=19"> 11 $2.7 BILLION EUROPE AND CENTRAL ASIA </a> <a title="IFC Annual Report 2011 page 20" href="http://viewer.zmags.com/publication/88f6cd6b?page=20"> 12 1 IFC's Global </a> <a title="IFC Annual Report 2011 page 21" href="http://viewer.zmags.com/publication/88f6cd6b?page=21"> 13 FY11 DEVELOPMENT OUTCOME BY I</a> <a title="IFC Annual Report 2011 page 22" href="http://viewer.zmags.com/publication/88f6cd6b?page=22"> 14 1 IFC's Global </a> <a title="IFC Annual Report 2011 page 23" href="http://viewer.zmags.com/publication/88f6cd6b?page=23"> S P E C I A L T O P I C 15 GLOBAL </a> <a title="IFC Annual Report 2011 page 24" href="http://viewer.zmags.com/publication/88f6cd6b?page=24"> 16 1 IFC's Global </a> <a title="IFC Annual Report 2011 page 25" href="http://viewer.zmags.com/publication/88f6cd6b?page=25"> 17 Rashad Kaldany Jyrki Kos</a> <a title="IFC Annual Report 2011 page 26" href="http://viewer.zmags.com/publication/88f6cd6b?page=26"> 18 </a> <a title="IFC Annual Report 2011 page 27" href="http://viewer.zmags.com/publication/88f6cd6b?page=27"> 19 We're helping to… Bring satel</a> <a title="IFC Annual Report 2011 page 28" href="http://viewer.zmags.com/publication/88f6cd6b?page=28"> 20 2 How IFC Creates </a> <a title="IFC Annual Report 2011 page 29" href="http://viewer.zmags.com/publication/88f6cd6b?page=29"> INNOVATION 21 VATI</a> <a title="IFC Annual Report 2011 page 30" href="http://viewer.zmags.com/publication/88f6cd6b?page=30"> 22 2 How IFC Creates </a> <a title="IFC Annual Report 2011 page 31" href="http://viewer.zmags.com/publication/88f6cd6b?page=31"> INNOVATION 23</a> <a title="IFC Annual Report 2011 page 32" href="http://viewer.zmags.com/publication/88f6cd6b?page=32"> 24 2 How IFC Creates </a> <a title="IFC Annual Report 2011 page 33" href="http://viewer.zmags.com/publication/88f6cd6b?page=33"> INNOVATION 25 PROMOTING THE</a> <a title="IFC Annual Report 2011 page 34" href="http://viewer.zmags.com/publication/88f6cd6b?page=34"> 26 2 How IFC Creates </a> <a title="IFC Annual Report 2011 page 35" href="http://viewer.zmags.com/publication/88f6cd6b?page=35"> INNOVATION 27 Medical problems that </a> <a title="IFC Annual Report 2011 page 36" href="http://viewer.zmags.com/publication/88f6cd6b?page=36"> 28 2 How IFC Creates </a> <a title="IFC Annual Report 2011 page 37" href="http://viewer.zmags.com/publication/88f6cd6b?page=37"> INNOVATION 29 INDIA'S RURAL WO</a> <a title="IFC Annual Report 2011 page 38" href="http://viewer.zmags.com/publication/88f6cd6b?page=38"> 30 2 How IFC Creates </a> <a title="IFC Annual Report 2011 page 39" href="http://viewer.zmags.com/publication/88f6cd6b?page=39"> INFLUENCE 31 U E IFC's advice and ideas</a> <a title="IFC Annual Report 2011 page 40" href="http://viewer.zmags.com/publication/88f6cd6b?page=40"> 32 2 How IFC Creates </a> <a title="IFC Annual Report 2011 page 41" href="http://viewer.zmags.com/publication/88f6cd6b?page=41"> INFLUENCE 33 and its challenges, wi</a> <a title="IFC Annual Report 2011 page 42" href="http://viewer.zmags.com/publication/88f6cd6b?page=42"> 34 2 How IFC Creates </a> <a title="IFC Annual Report 2011 page 43" href="http://viewer.zmags.com/publication/88f6cd6b?page=43"> INFLUENCE 35 ALLEVIATING UNC</a> <a title="IFC Annual Report 2011 page 44" href="http://viewer.zmags.com/publication/88f6cd6b?page=44"> 36 2 How IFC Creates </a> <a title="IFC Annual Report 2011 page 45" href="http://viewer.zmags.com/publication/88f6cd6b?page=45"> INFLUENCE 37 In developing countrie</a> <a title="IFC Annual Report 2011 page 46" href="http://viewer.zmags.com/publication/88f6cd6b?page=46"> 38 2 How IFC Creates </a> <a title="IFC Annual Report 2011 page 47" href="http://viewer.zmags.com/publication/88f6cd6b?page=47"> INFLUENCE 39 risk-management framew</a> <a title="IFC Annual Report 2011 page 48" href="http://viewer.zmags.com/publication/88f6cd6b?page=48"> 40 2 How IFC Creates </a> <a title="IFC Annual Report 2011 page 49" href="http://viewer.zmags.com/publication/88f6cd6b?page=49"> DEMONSTRATION 41 NSTR N Creating opportunit</a> <a title="IFC Annual Report 2011 page 50" href="http://viewer.zmags.com/publication/88f6cd6b?page=50"> 42 2 How IFC Creates </a> <a title="IFC Annual Report 2011 page 51" href="http://viewer.zmags.com/publication/88f6cd6b?page=51"> DEMONSTRATION 43</a> <a title="IFC Annual Report 2011 page 52" href="http://viewer.zmags.com/publication/88f6cd6b?page=52"> 44 2 How IFC Creates </a> <a title="IFC Annual Report 2011 page 53" href="http://viewer.zmags.com/publication/88f6cd6b?page=53"> DEMONSTRATION 45 Left An Esoko client u</a> <a title="IFC Annual Report 2011 page 54" href="http://viewer.zmags.com/publication/88f6cd6b?page=54"> 46 2 How IFC Creates </a> <a title="IFC Annual Report 2011 page 55" href="http://viewer.zmags.com/publication/88f6cd6b?page=55"> DEMONSTRATION 47 MOBILIZING CA</a> <a title="IFC Annual Report 2011 page 56" href="http://viewer.zmags.com/publication/88f6cd6b?page=56"> 48 2 How IFC Creates </a> <a title="IFC Annual Report 2011 page 57" href="http://viewer.zmags.com/publication/88f6cd6b?page=57"> I M PA C T 49 C T Creating opportuni</a> <a title="IFC Annual Report 2011 page 58" href="http://viewer.zmags.com/publication/88f6cd6b?page=58"> 50 2 How IFC Creates </a> <a title="IFC Annual Report 2011 page 59" href="http://viewer.zmags.com/publication/88f6cd6b?page=59"> I M PA C T 51 investment and adv</a> <a title="IFC Annual Report 2011 page 60" href="http://viewer.zmags.com/publication/88f6cd6b?page=60"> 52 2 How IFC Creates </a> <a title="IFC Annual Report 2011 page 61" href="http://viewer.zmags.com/publication/88f6cd6b?page=61"> I M PA C T 53 EASING THE </a> <a title="IFC Annual Report 2011 page 62" href="http://viewer.zmags.com/publication/88f6cd6b?page=62"> 54 2 How IFC Creates </a> <a title="IFC Annual Report 2011 page 63" href="http://viewer.zmags.com/publication/88f6cd6b?page=63"> I M PA C T 55 IFC has played a l</a> <a title="IFC Annual Report 2011 page 64" href="http://viewer.zmags.com/publication/88f6cd6b?page=64"> 56 2 How IFC Creates </a> <a title="IFC Annual Report 2011 page 65" href="http://viewer.zmags.com/publication/88f6cd6b?page=65"> 57 3 PART 3 MEAS</a> <a title="IFC Annual Report 2011 page 66" href="http://viewer.zmags.com/publication/88f6cd6b?page=66"> 58 3 Measuring Up </a> <a title="IFC Annual Report 2011 page 67" href="http://viewer.zmags.com/publication/88f6cd6b?page=67"> 59 The Scorecard IFC's Performance o</a> <a title="IFC Annual Report 2011 page 68" href="http://viewer.zmags.com/publication/88f6cd6b?page=68"> 60 3 Measuring Up </a> <a title="IFC Annual Report 2011 page 69" href="http://viewer.zmags.com/publication/88f6cd6b?page=69"> 61 LOCAL COMMUNITIES </a> <a title="IFC Annual Report 2011 page 70" href="http://viewer.zmags.com/publication/88f6cd6b?page=70"> 62 3 Measuring Up </a> <a title="IFC Annual Report 2011 page 71" href="http://viewer.zmags.com/publication/88f6cd6b?page=71"> 63 projects—or finances large</a> <a title="IFC Annual Report 2011 page 72" href="http://viewer.zmags.com/publication/88f6cd6b?page=72"> 64 </a> <a title="IFC Annual Report 2011 page 73" href="http://viewer.zmags.com/publication/88f6cd6b?page=73"> 65 Where We Work Our experience—</a> <a title="IFC Annual Report 2011 page 74" href="http://viewer.zmags.com/publication/88f6cd6b?page=74"> 66 4 Our Business </a> <a title="IFC Annual Report 2011 page 75" href="http://viewer.zmags.com/publication/88f6cd6b?page=75"> 67 TRADE FINANCE The IFC Glo</a> <a title="IFC Annual Report 2011 page 76" href="http://viewer.zmags.com/publication/88f6cd6b?page=76"> 68 4 Our Business </a> <a title="IFC Annual Report 2011 page 77" href="http://viewer.zmags.com/publication/88f6cd6b?page=77"> 69 IFC ASSET MANAGEMENT C</a> <a title="IFC Annual Report 2011 page 78" href="http://viewer.zmags.com/publication/88f6cd6b?page=78"> 70 4 Our Business </a> <a title="IFC Annual Report 2011 page 79" href="http://viewer.zmags.com/publication/88f6cd6b?page=79"> 71 the exchange of best prac</a> <a title="IFC Annual Report 2011 page 80" href="http://viewer.zmags.com/publication/88f6cd6b?page=80"> 72 4 Our Business </a> <a title="IFC Annual Report 2011 page 81" href="http://viewer.zmags.com/publication/88f6cd6b?page=81"> 73 AGRICULTURAL COMMODITY RO</a> <a title="IFC Annual Report 2011 page 82" href="http://viewer.zmags.com/publication/88f6cd6b?page=82"> 74 4 Our Business </a> <a title="IFC Annual Report 2011 page 83" href="http://viewer.zmags.com/publication/88f6cd6b?page=83"> 75 study on the relationship</a> <a title="IFC Annual Report 2011 page 84" href="http://viewer.zmags.com/publication/88f6cd6b?page=84"> 76 4 Our Business </a> <a title="IFC Annual Report 2011 page 85" href="http://viewer.zmags.com/publication/88f6cd6b?page=85"> 77 5PART 5 HOW WE WORK Our People & Prac</a> <a title="IFC Annual Report 2011 page 86" href="http://viewer.zmags.com/publication/88f6cd6b?page=86"> 78 5How We Work </a> <a title="IFC Annual Report 2011 page 87" href="http://viewer.zmags.com/publication/88f6cd6b?page=87"> 79 The IFC Development Goals Res</a> <a title="IFC Annual Report 2011 page 88" href="http://viewer.zmags.com/publication/88f6cd6b?page=88"> 80 5How We Work </a> <a title="IFC Annual Report 2011 page 89" href="http://viewer.zmags.com/publication/88f6cd6b?page=89"> 81 How We Measure Development Result</a> <a title="IFC Annual Report 2011 page 90" href="http://viewer.zmags.com/publication/88f6cd6b?page=90"> 82 5How We Work </a> <a title="IFC Annual Report 2011 page 91" href="http://viewer.zmags.com/publication/88f6cd6b?page=91"> 83 from 70 percent in FY10. </a> <a title="IFC Annual Report 2011 page 92" href="http://viewer.zmags.com/publication/88f6cd6b?page=92"> 84 5How We Work </a> <a title="IFC Annual Report 2011 page 93" href="http://viewer.zmags.com/publication/88f6cd6b?page=93"> 85 DEVELOPMENT OUTCOME: INVE</a> <a title="IFC Annual Report 2011 page 94" href="http://viewer.zmags.com/publication/88f6cd6b?page=94"> 86 5How We Work </a> <a title="IFC Annual Report 2011 page 95" href="http://viewer.zmags.com/publication/88f6cd6b?page=95"> 87 A Comprehensive Change Initiative</a> <a title="IFC Annual Report 2011 page 96" href="http://viewer.zmags.com/publication/88f6cd6b?page=96"> 88 5How We Work </a> <a title="IFC Annual Report 2011 page 97" href="http://viewer.zmags.com/publication/88f6cd6b?page=97"> 89 COMPENSATION IFC’s compen</a> <a title="IFC Annual Report 2011 page 98" href="http://viewer.zmags.com/publication/88f6cd6b?page=98"> 90 5How We Work </a> <a title="IFC Annual Report 2011 page 99" href="http://viewer.zmags.com/publication/88f6cd6b?page=99"> 91 Standin</a> <a title="IFC Annual Report 2011 page 100" href="http://viewer.zmags.com/publication/88f6cd6b?page=100"> 92 5How We Work </a> <a title="IFC Annual Report 2011 page 101" href="http://viewer.zmags.com/publication/88f6cd6b?page=101"> 93 the world are starting to</a> <a title="IFC Annual Report 2011 page 102" href="http://viewer.zmags.com/publication/88f6cd6b?page=102"> 94 5How We Work </a> <a title="IFC Annual Report 2011 page 103" href="http://viewer.zmags.com/publication/88f6cd6b?page=103"> 95 countries or more general</a> <a title="IFC Annual Report 2011 page 104" href="http://viewer.zmags.com/publication/88f6cd6b?page=104"> 96 5How We Work </a> <a title="IFC Annual Report 2011 page 105" href="http://viewer.zmags.com/publication/88f6cd6b?page=105"> 97 transparency and accounta</a> <a title="IFC Annual Report 2011 page 106" href="http://viewer.zmags.com/publication/88f6cd6b?page=106"> 98 5How We Work </a> <a title="IFC Annual Report 2011 page 107" href="http://viewer.zmags.com/publication/88f6cd6b?page=107"> 99 4 INVESTMENT REVIEW The project team mak</a> <a title="IFC Annual Report 2011 page 108" href="http://viewer.zmags.com/publication/88f6cd6b?page=108"> 100 5How We Work </a> <a title="IFC Annual Report 2011 page 109" href="http://viewer.zmags.com/publication/88f6cd6b?page=109"> 101 growing area of IFC’s po</a> <a title="IFC Annual Report 2011 page 110" href="http://viewer.zmags.com/publication/88f6cd6b?page=110"> 102 5How We Work </a> <a title="IFC Annual Report 2011 page 111" href="http://viewer.zmags.com/publication/88f6cd6b?page=111"> 103 Our review aimed to prov</a> <a title="IFC Annual Report 2011 page 112" href="http://viewer.zmags.com/publication/88f6cd6b?page=112"> 104 5How We Work </a> <a title="IFC Annual Report 2011 page 113" href="http://viewer.zmags.com/publication/88f6cd6b?page=113"> 105 FEEDBACK ON ANNUAL REPOR</a> <a title="IFC Annual Report 2011 page 114" href="http://viewer.zmags.com/publication/88f6cd6b?page=114"> 106 5 How We Work </a> <a title="IFC Annual Report 2011 page 115" href="http://viewer.zmags.com/publication/88f6cd6b?page=115"> CREDITS A product of IFC Corporate Relations. Des</a> <a title="IFC Annual Report 2011 page 116" href="http://viewer.zmags.com/publication/88f6cd6b?page=116"> ISBN: 978-0-8213-8602-6 CREATING OPPORTUNITY W</a>