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&lt;br /&gt; Munira Shonibare, Founder/Executive Director,&lt;br /&gt; IO Furniture, Nigeria&lt;br /&gt; Wandee Khunchornyakong, President,&lt;br /&gt; Solar Power Co., Thailand&lt;br /&gt; &lt;br /&gt; I AM&lt;br /&gt; OPPORTUNITY&lt;br /&gt; &lt;br /&gt; IFC ANNUAL REPORT 2011&lt;br /&gt; &lt;br /&gt; Gyanesh Pandey, Founder/CEO, Husk Power Systems, India&lt;br /&gt; Anwar Jayyosi, Managing Director, Palestine for Credit and&lt;br /&gt; Development (FATEN), West Bank and Gaza&lt;br /&gt; LOOKING AT OUR WORK THROUGH MULTIPLE LENSES&lt;br /&gt; &lt;br /&gt; &lt;br /&gt; &lt;br /&gt; &lt;br /&gt; &lt;br /&gt; &lt;br /&gt; Private sector development is a challenge of considerable complexity. As a global institution, we embrace&lt;br /&gt; that complexity.&lt;br /&gt; IFC tackles the most pressing development challenges, approaching them in ways that are responsive to the&lt;br /&gt; needs of all our stakeholders&mdash;from the governments that comprise our <a title="IFC Annual Report 2011 page 1" href="http://viewer.zmags.com/publication/88f6cd6b?page=1">Munira Shonibare, Founder/Executive Director,IO </a> Munira Shonibare, Founder/Executive Director,IO <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> LOOKING AT OUR WORK THROUGH MULTIPLE LENSES<a title="IFC Annual Report 2011 page 3" href="http://viewer.zmags.com/publication/88f6cd6b?page=3">ABOUT IFCOUR MATERIALITYTOPICSW</a> ABOUT IFCOUR MATERIALITYTOPICSW<a title="IFC Annual Report 2011 page 4" href="http://viewer.zmags.com/publication/88f6cd6b?page=4">Leadership PerspectivesLetter from the World Ban</a> Leadership PerspectivesLetter from the World Ban<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> At the same time, IFC Asset Management Co<a title="IFC Annual Report 2011 page 6" href="http://viewer.zmags.com/publication/88f6cd6b?page=6">Leadership PerspectivesLetter from the IFC EVP a</a> Leadership PerspectivesLetter from the IFC EVP 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> their investment climates. We helped strengthen t<a title="IFC Annual Report 2011 page 8" href="http://viewer.zmags.com/publication/88f6cd6b?page=8">ContentsINTRODUCTION: I AM OPPORTUNITYP1&ndash;7</a> ContentsINTRODUCTION: I AM OPPORTUNITYP1&ndash;7<a title="IFC Annual Report 2011 page 9" href="http://viewer.zmags.com/publication/88f6cd6b?page=9">1 IFC WORKS TO PROVIDE OPPORTUN</a> 1 IFC WORKS TO PROVIDE OPPORTUN<a title="IFC Annual Report 2011 page 10" href="http://viewer.zmags.com/publication/88f6cd6b?page=10">2$1.7 billion in energy-ef&#64257;ciency and renewable-</a> 2$1.7 billion in energy-ef&#64257;ciency and renewable-<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> 2.5 million farmers reached worldwide in CY10 <a title="IFC Annual Report 2011 page 12" href="http://viewer.zmags.com/publication/88f6cd6b?page=12">44.3 million power customers reached inSouth As</a> 44.3 million power customers reached inSouth As<a title="IFC Annual Report 2011 page 13" href="http://viewer.zmags.com/publication/88f6cd6b?page=13">1.5 million loans to micro, small, andmedium ent</a> 1.5 million loans to micro, small, andmedium ent<a title="IFC Annual Report 2011 page 14" href="http://viewer.zmags.com/publication/88f6cd6b?page=14">6More than 241,000 micro, small, and mediumente</a> 6More than 241,000 micro, small, and mediumente<a title="IFC Annual Report 2011 page 15" href="http://viewer.zmags.com/publication/88f6cd6b?page=15">$4.9 billion committed for 251 projects inIDA co</a> $4.9 billion committed for 251 projects inIDA co<a title="IFC Annual Report 2011 page 16" href="http://viewer.zmags.com/publication/88f6cd6b?page=16">8 </a> 8 <a title="IFC Annual Report 2011 page 17" href="http://viewer.zmags.com/publication/88f6cd6b?page=17">9IFC FINANCIAL HIGHLIGHTS </a> 9IFC FINANCIAL HIGHLIGHTS <a title="IFC Annual Report 2011 page 18" href="http://viewer.zmags.com/publication/88f6cd6b?page=18">10 1 IFC's Global </a> 10 1 IFC's Global <a title="IFC Annual Report 2011 page 19" href="http://viewer.zmags.com/publication/88f6cd6b?page=19">11$2.7 BILLIONEUROPE AND CENTRAL ASIA</a> 11$2.7 BILLIONEUROPE AND CENTRAL ASIA<a title="IFC Annual Report 2011 page 20" href="http://viewer.zmags.com/publication/88f6cd6b?page=20">12 1 IFC's Global </a> 12 1 IFC's Global <a title="IFC Annual Report 2011 page 21" href="http://viewer.zmags.com/publication/88f6cd6b?page=21">13FY11 DEVELOPMENT OUTCOME BY I</a> 13FY11 DEVELOPMENT OUTCOME BY I<a title="IFC Annual Report 2011 page 22" href="http://viewer.zmags.com/publication/88f6cd6b?page=22">14 1 IFC's Global </a> 14 1 IFC's Global <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 15GLOBAL</a> S P E C I A L T O P I C 15GLOBAL<a title="IFC Annual Report 2011 page 24" href="http://viewer.zmags.com/publication/88f6cd6b?page=24">16 1 IFC's Global </a> 16 1 IFC's Global <a title="IFC Annual Report 2011 page 25" href="http://viewer.zmags.com/publication/88f6cd6b?page=25">17Rashad Kaldany Jyrki Kos</a> 17Rashad Kaldany Jyrki Kos<a title="IFC Annual Report 2011 page 26" href="http://viewer.zmags.com/publication/88f6cd6b?page=26">18 </a> 18 <a title="IFC Annual Report 2011 page 27" href="http://viewer.zmags.com/publication/88f6cd6b?page=27">19We're helping to&hellip;Bring satel</a> 19We're helping to&hellip;Bring satel<a title="IFC Annual Report 2011 page 28" href="http://viewer.zmags.com/publication/88f6cd6b?page=28">20 2 How IFC Creates </a> 20 2 How IFC Creates <a title="IFC Annual Report 2011 page 29" href="http://viewer.zmags.com/publication/88f6cd6b?page=29">INNOVATION 21VATI</a> INNOVATION 21VATI<a title="IFC Annual Report 2011 page 30" href="http://viewer.zmags.com/publication/88f6cd6b?page=30">22 2 How IFC Creates </a> 22 2 How IFC Creates <a title="IFC Annual Report 2011 page 31" href="http://viewer.zmags.com/publication/88f6cd6b?page=31">INNOVATION 23</a> INNOVATION 23<a title="IFC Annual Report 2011 page 32" href="http://viewer.zmags.com/publication/88f6cd6b?page=32">24 2 How IFC Creates </a> 24 2 How IFC Creates <a title="IFC Annual Report 2011 page 33" href="http://viewer.zmags.com/publication/88f6cd6b?page=33">INNOVATION 25PROMOTING THE</a> INNOVATION 25PROMOTING THE<a title="IFC Annual Report 2011 page 34" href="http://viewer.zmags.com/publication/88f6cd6b?page=34">26 2 How IFC Creates </a> 26 2 How IFC Creates <a title="IFC Annual Report 2011 page 35" href="http://viewer.zmags.com/publication/88f6cd6b?page=35">INNOVATION 27Medical problems that </a> INNOVATION 27Medical problems that <a title="IFC Annual Report 2011 page 36" href="http://viewer.zmags.com/publication/88f6cd6b?page=36">28 2 How IFC Creates </a> 28 2 How IFC Creates <a title="IFC Annual Report 2011 page 37" href="http://viewer.zmags.com/publication/88f6cd6b?page=37">INNOVATION 29INDIA'SRURAL WO</a> INNOVATION 29INDIA'SRURAL WO<a title="IFC Annual Report 2011 page 38" href="http://viewer.zmags.com/publication/88f6cd6b?page=38">30 2 How IFC Creates </a> 30 2 How IFC Creates <a title="IFC Annual Report 2011 page 39" href="http://viewer.zmags.com/publication/88f6cd6b?page=39">INFLUENCE 31U E IFC's advice and ideas</a> INFLUENCE 31U E IFC's advice and ideas<a title="IFC Annual Report 2011 page 40" href="http://viewer.zmags.com/publication/88f6cd6b?page=40">32 2 How IFC Creates </a> 32 2 How IFC Creates <a title="IFC Annual Report 2011 page 41" href="http://viewer.zmags.com/publication/88f6cd6b?page=41">INFLUENCE 33and its challenges, wi</a> INFLUENCE 33and its challenges, wi<a title="IFC Annual Report 2011 page 42" href="http://viewer.zmags.com/publication/88f6cd6b?page=42">34 2 How IFC Creates </a> 34 2 How IFC Creates <a title="IFC Annual Report 2011 page 43" href="http://viewer.zmags.com/publication/88f6cd6b?page=43">INFLUENCE 35ALLEVIATINGUNC</a> INFLUENCE 35ALLEVIATINGUNC<a title="IFC Annual Report 2011 page 44" href="http://viewer.zmags.com/publication/88f6cd6b?page=44">36 2 How IFC Creates </a> 36 2 How IFC Creates <a title="IFC Annual Report 2011 page 45" href="http://viewer.zmags.com/publication/88f6cd6b?page=45">INFLUENCE 37In developing countrie</a> INFLUENCE 37In developing countrie<a title="IFC Annual Report 2011 page 46" href="http://viewer.zmags.com/publication/88f6cd6b?page=46">38 2 How IFC Creates </a> 38 2 How IFC Creates <a title="IFC Annual Report 2011 page 47" href="http://viewer.zmags.com/publication/88f6cd6b?page=47">INFLUENCE 39risk-management framew</a> INFLUENCE 39risk-management framew<a title="IFC Annual Report 2011 page 48" href="http://viewer.zmags.com/publication/88f6cd6b?page=48">40 2 How IFC Creates </a> 40 2 How IFC Creates <a title="IFC Annual Report 2011 page 49" href="http://viewer.zmags.com/publication/88f6cd6b?page=49">DEMONSTRATION 41NSTRN Creating opportunit</a> DEMONSTRATION 41NSTRN Creating opportunit<a title="IFC Annual Report 2011 page 50" href="http://viewer.zmags.com/publication/88f6cd6b?page=50">42 2 How IFC Creates </a> 42 2 How IFC Creates <a title="IFC Annual Report 2011 page 51" href="http://viewer.zmags.com/publication/88f6cd6b?page=51">DEMONSTRATION 43</a> DEMONSTRATION 43<a title="IFC Annual Report 2011 page 52" href="http://viewer.zmags.com/publication/88f6cd6b?page=52">44 2 How IFC Creates </a> 44 2 How IFC Creates <a title="IFC Annual Report 2011 page 53" href="http://viewer.zmags.com/publication/88f6cd6b?page=53">DEMONSTRATION 45Left An Esokoclient u</a> DEMONSTRATION 45Left An Esokoclient u<a title="IFC Annual Report 2011 page 54" href="http://viewer.zmags.com/publication/88f6cd6b?page=54">46 2 How IFC Creates </a> 46 2 How IFC Creates <a title="IFC Annual Report 2011 page 55" href="http://viewer.zmags.com/publication/88f6cd6b?page=55">DEMONSTRATION 47MOBILIZING CA</a> DEMONSTRATION 47MOBILIZING CA<a title="IFC Annual Report 2011 page 56" href="http://viewer.zmags.com/publication/88f6cd6b?page=56">48 2 How IFC Creates </a> 48 2 How IFC Creates <a title="IFC Annual Report 2011 page 57" href="http://viewer.zmags.com/publication/88f6cd6b?page=57">I M PA C T 49C T Creating opportuni</a> I M PA C T 49C T Creating opportuni<a title="IFC Annual Report 2011 page 58" href="http://viewer.zmags.com/publication/88f6cd6b?page=58">50 2 How IFC Creates </a> 50 2 How IFC Creates <a title="IFC Annual Report 2011 page 59" href="http://viewer.zmags.com/publication/88f6cd6b?page=59">I M PA C T 51investment and adv</a> I M PA C T 51investment and adv<a title="IFC Annual Report 2011 page 60" href="http://viewer.zmags.com/publication/88f6cd6b?page=60">52 2 How IFC Creates </a> 52 2 How IFC Creates <a title="IFC Annual Report 2011 page 61" href="http://viewer.zmags.com/publication/88f6cd6b?page=61">I M PA C T 53EASING THE</a> I M PA C T 53EASING THE<a title="IFC Annual Report 2011 page 62" href="http://viewer.zmags.com/publication/88f6cd6b?page=62">54 2 How IFC Creates </a> 54 2 How IFC Creates <a title="IFC Annual Report 2011 page 63" href="http://viewer.zmags.com/publication/88f6cd6b?page=63">I M PA C T 55IFC has played a l</a> I M PA C T 55IFC has played a l<a title="IFC Annual Report 2011 page 64" href="http://viewer.zmags.com/publication/88f6cd6b?page=64">56 2 How IFC Creates </a> 56 2 How IFC Creates <a title="IFC Annual Report 2011 page 65" href="http://viewer.zmags.com/publication/88f6cd6b?page=65">573 PART 3 MEAS</a> 573 PART 3 MEAS<a title="IFC Annual Report 2011 page 66" href="http://viewer.zmags.com/publication/88f6cd6b?page=66">58 3 Measuring Up </a> 58 3 Measuring Up <a title="IFC Annual Report 2011 page 67" href="http://viewer.zmags.com/publication/88f6cd6b?page=67">59The ScorecardIFC's Performance o</a> 59The ScorecardIFC's Performance o<a title="IFC Annual Report 2011 page 68" href="http://viewer.zmags.com/publication/88f6cd6b?page=68">60 3 Measuring Up </a> 60 3 Measuring Up <a title="IFC Annual Report 2011 page 69" href="http://viewer.zmags.com/publication/88f6cd6b?page=69">61LOCAL COMMUNITIES</a> 61LOCAL COMMUNITIES<a title="IFC Annual Report 2011 page 70" href="http://viewer.zmags.com/publication/88f6cd6b?page=70">62 3 Measuring Up </a> 62 3 Measuring Up <a title="IFC Annual Report 2011 page 71" href="http://viewer.zmags.com/publication/88f6cd6b?page=71">63projects&mdash;or &#64257;nances large</a> 63projects&mdash;or &#64257;nances large<a title="IFC Annual Report 2011 page 72" href="http://viewer.zmags.com/publication/88f6cd6b?page=72">64 </a> 64 <a title="IFC Annual Report 2011 page 73" href="http://viewer.zmags.com/publication/88f6cd6b?page=73">65Where We WorkOur experience&mdash;</a> 65Where We WorkOur experience&mdash;<a title="IFC Annual Report 2011 page 74" href="http://viewer.zmags.com/publication/88f6cd6b?page=74">66 4 Our Business </a> 66 4 Our Business <a title="IFC Annual Report 2011 page 75" href="http://viewer.zmags.com/publication/88f6cd6b?page=75">67TRADE FINANCEThe IFC Glo</a> 67TRADE FINANCEThe IFC Glo<a title="IFC Annual Report 2011 page 76" href="http://viewer.zmags.com/publication/88f6cd6b?page=76">68 4 Our Business </a> 68 4 Our Business <a title="IFC Annual Report 2011 page 77" href="http://viewer.zmags.com/publication/88f6cd6b?page=77">69IFC ASSET MANAGEMENTC</a> 69IFC ASSET MANAGEMENTC<a title="IFC Annual Report 2011 page 78" href="http://viewer.zmags.com/publication/88f6cd6b?page=78">70 4 Our Business </a> 70 4 Our Business <a title="IFC Annual Report 2011 page 79" href="http://viewer.zmags.com/publication/88f6cd6b?page=79">71the exchange of best prac</a> 71the exchange of best prac<a title="IFC Annual Report 2011 page 80" href="http://viewer.zmags.com/publication/88f6cd6b?page=80">72 4 Our Business </a> 72 4 Our Business <a title="IFC Annual Report 2011 page 81" href="http://viewer.zmags.com/publication/88f6cd6b?page=81">73AGRICULTURAL COMMODITY RO</a> 73AGRICULTURAL COMMODITY RO<a title="IFC Annual Report 2011 page 82" href="http://viewer.zmags.com/publication/88f6cd6b?page=82">74 4 Our Business </a> 74 4 Our Business <a title="IFC Annual Report 2011 page 83" href="http://viewer.zmags.com/publication/88f6cd6b?page=83">75study on the relationship</a> 75study on the relationship<a title="IFC Annual Report 2011 page 84" href="http://viewer.zmags.com/publication/88f6cd6b?page=84">76 4 Our Business </a> 76 4 Our Business <a title="IFC Annual Report 2011 page 85" href="http://viewer.zmags.com/publication/88f6cd6b?page=85">775PART 5HOW WE WORKOur People &amp; Prac</a> 775PART 5HOW WE WORKOur People &amp; Prac<a title="IFC Annual Report 2011 page 86" href="http://viewer.zmags.com/publication/88f6cd6b?page=86">78 5How We Work </a> 78 5How We Work <a title="IFC Annual Report 2011 page 87" href="http://viewer.zmags.com/publication/88f6cd6b?page=87">79The IFC Development GoalsRes</a> 79The IFC Development GoalsRes<a title="IFC Annual Report 2011 page 88" href="http://viewer.zmags.com/publication/88f6cd6b?page=88">80 5How We Work </a> 80 5How We Work <a title="IFC Annual Report 2011 page 89" href="http://viewer.zmags.com/publication/88f6cd6b?page=89">81How We Measure Development Result</a> 81How We Measure Development Result<a title="IFC Annual Report 2011 page 90" href="http://viewer.zmags.com/publication/88f6cd6b?page=90">82 5How We Work </a> 82 5How We Work <a title="IFC Annual Report 2011 page 91" href="http://viewer.zmags.com/publication/88f6cd6b?page=91">83from 70 percent in FY10. </a> 83from 70 percent in FY10. <a title="IFC Annual Report 2011 page 92" href="http://viewer.zmags.com/publication/88f6cd6b?page=92">84 5How We Work </a> 84 5How We Work <a title="IFC Annual Report 2011 page 93" href="http://viewer.zmags.com/publication/88f6cd6b?page=93">85DEVELOPMENT OUTCOME: INVE</a> 85DEVELOPMENT OUTCOME: INVE<a title="IFC Annual Report 2011 page 94" href="http://viewer.zmags.com/publication/88f6cd6b?page=94">86 5How We Work </a> 86 5How We Work <a title="IFC Annual Report 2011 page 95" href="http://viewer.zmags.com/publication/88f6cd6b?page=95">87A Comprehensive Change Initiative</a> 87A Comprehensive Change Initiative<a title="IFC Annual Report 2011 page 96" href="http://viewer.zmags.com/publication/88f6cd6b?page=96">88 5How We Work </a> 88 5How We Work <a title="IFC Annual Report 2011 page 97" href="http://viewer.zmags.com/publication/88f6cd6b?page=97">89COMPENSATIONIFC&rsquo;s compen</a> 89COMPENSATIONIFC&rsquo;s compen<a title="IFC Annual Report 2011 page 98" href="http://viewer.zmags.com/publication/88f6cd6b?page=98">90 5How We Work </a> 90 5How We Work <a title="IFC Annual Report 2011 page 99" href="http://viewer.zmags.com/publication/88f6cd6b?page=99">91Standin</a> 91Standin<a title="IFC Annual Report 2011 page 100" href="http://viewer.zmags.com/publication/88f6cd6b?page=100">92 5How We Work </a> 92 5How We Work <a title="IFC Annual Report 2011 page 101" href="http://viewer.zmags.com/publication/88f6cd6b?page=101">93the world are starting to</a> 93the world are starting to<a title="IFC Annual Report 2011 page 102" href="http://viewer.zmags.com/publication/88f6cd6b?page=102">94 5How We Work </a> 94 5How We Work <a title="IFC Annual Report 2011 page 103" href="http://viewer.zmags.com/publication/88f6cd6b?page=103">95countries or more general</a> 95countries or more general<a title="IFC Annual Report 2011 page 104" href="http://viewer.zmags.com/publication/88f6cd6b?page=104">96 5How We Work </a> 96 5How We Work <a title="IFC Annual Report 2011 page 105" href="http://viewer.zmags.com/publication/88f6cd6b?page=105">97transparency and accounta</a> 97transparency and accounta<a title="IFC Annual Report 2011 page 106" href="http://viewer.zmags.com/publication/88f6cd6b?page=106">98 5How We Work </a> 98 5How We Work <a title="IFC Annual Report 2011 page 107" href="http://viewer.zmags.com/publication/88f6cd6b?page=107">994INVESTMENT REVIEWThe project team mak</a> 994INVESTMENT REVIEWThe project team mak<a title="IFC Annual Report 2011 page 108" href="http://viewer.zmags.com/publication/88f6cd6b?page=108">100 5How We Work </a> 100 5How We Work <a title="IFC Annual Report 2011 page 109" href="http://viewer.zmags.com/publication/88f6cd6b?page=109">101growing area of IFC&rsquo;s po</a> 101growing area of IFC&rsquo;s po<a title="IFC Annual Report 2011 page 110" href="http://viewer.zmags.com/publication/88f6cd6b?page=110">102 5How We Work </a> 102 5How We Work <a title="IFC Annual Report 2011 page 111" href="http://viewer.zmags.com/publication/88f6cd6b?page=111">103Our review aimed to prov</a> 103Our review aimed to prov<a title="IFC Annual Report 2011 page 112" href="http://viewer.zmags.com/publication/88f6cd6b?page=112">104 5How We Work </a> 104 5How We Work <a title="IFC Annual Report 2011 page 113" href="http://viewer.zmags.com/publication/88f6cd6b?page=113">105FEEDBACK ON ANNUAL REPOR</a> 105FEEDBACK ON ANNUAL REPOR<a title="IFC Annual Report 2011 page 114" href="http://viewer.zmags.com/publication/88f6cd6b?page=114">106 5 How We Work </a> 106 5 How We Work <a title="IFC Annual Report 2011 page 115" href="http://viewer.zmags.com/publication/88f6cd6b?page=115">CREDITSA product of IFC Corporate Relations.Des</a> CREDITSA product of IFC Corporate Relations.Des<a title="IFC Annual Report 2011 page 116" href="http://viewer.zmags.com/publication/88f6cd6b?page=116">ISBN: 978-0-8213-8602-6CREATING OPPORTUNITYW</a> ISBN: 978-0-8213-8602-6CREATING OPPORTUNITYW