What is the overall goal of the IFC concerning economic development?

The overall goal of the International Finance Corporation (IFC) concerning economic development is to ensure sustainable growth through private sector investment. The IFC focuses on promoting private sector investment as a means to foster economic development and reduce poverty in developing countries. By facilitating investments in various sectors, the IFC aims to create jobs, enhance skills in the workforce, and improve living conditions while also considering the long-term sustainability of these growth efforts.

This approach emphasizes that private sector engagement is crucial for spurring innovation, increasing productivity, and ultimately contributing to a more resilient economy. Sustainable growth involves not only immediate benefits but also long-term strategies that protect the environment and support social equity. Thus, the IFC’s commitment to combining economic growth with social and environmental responsibility makes this choice the most aligned with its mission.