International Finance Corporation
The International Finance Corporation (IFC) is a UN-specialized agency affiliated with the World Bank. The IFC was founded in 1956 in order to stimulate the economic development of its member states by providing capital for private enterprises in developing countries. Together, the IFC and World Bank have set two goals for the world to achieve by 2030: end extreme poverty and promote shared prosperity in every country. Unlike private banks, the IFC makes loans without the receiving government’s guarantee of repayment. Additionally, the IFC cannot specify how the receiving nation spends its loan.
The IFC is headed by a president (who also serves as president of the World Bank) and has 184 member states. The IFC operates on a weighted-voting system, with the U.S exerting about 25% of total votes. Between 1956 and the beginning of the 21st century, the IFC provided more than $25 billion to fund projects in nearly 125 countries. In 2000 alone, the IFC invested more than $4 billion for 250 development projects in nearly 80 countries.
Source: worldbank.org, Encyclopedia Britannica
Committee Topics and Background Guide
Topic A: Reassessment and Oversight of Public-Private Partnerships (PPPs)
Topic B: Sustainable Infrastructure Investments in Developing NationsAvailable December 5, 2018
Letter from the Chair
Dear Honorable Delegates,
Welcome to JHUMUNC 2019! My name is Hana Kadir and I am extremely honored and excited to serve as your chair for the International Finance Corporation! I am from Dallas, Texas and I’m a current junior at Johns Hopkins studying International Studies and Sociology on the pre-medicine track. Outside of JHUMUNC, I’m involved with the Sexual Assault Resource Unit (SARU), UMR, Nourish International, and conduct research on conflict resolution in local middle schools through the International Studies department. In my free time, I enjoy going on runs, drinking good coffee, and spending time with friends.
This will be my third year participating in JHUMUNC. In the past, I’ve served as a dais member of the Historical World Health Organization (WHO) and the Social, Humanitarian, and Cultural (SOCHUM) committees. I’m very interested in development economics, particularly the role that local capital and foreign aid play in initiating and sustaining development projects around the world. In this committee, we will be discussing some of the most topical issues in the macroeconomic and international market – issues that the IFC and World Bank are working to resolve even today! I am so excited to provide you with the opportunity to build your own opinions and skills on these topics and hope you all take away something special from this conference! Please don’t hesitate to contact me with any questions or concerns. I look forward to meeting all of you at JHUMUNC 2019!
Chair, International Finance Corporation
JHUMUNC Session XXII