![New report finds international finance institutions critical for job creation in emerging markets New report finds international finance institutions critical for job creation in emerging markets](/media/8573/ifireport_small.gif)
New report finds international finance institutions critical for job creation in emerging markets
September 23, 2011
CAF and 30 institutions launch report that explain how they help promote development through the private sector.
A new report finds that international finance institutions (IFI) 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 today during the World Bank-IMF Annual Meetings. It was produced by 31 international finance institutions (IFIs). Senior officials from more than 20 IFIs will be attending the launch event.
CAF participated in the production of the report. 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. The meeting is coordinated by the International Financial Corporation (IFC).
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 more than $40 billion in commitments a year, about 5 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 $1 of capital supplied to IFIs can lead to $12 in private sector project investment
- IFIs support entrepreneurship and innovation, helping demonstrate the viability of private solutions in new or challenging areas.
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