About Allied Climate Partners:
- It is a philanthropic investment organisation.
- Mission: With a mission to increase the number of bankable, climate-related projects and businesses in emerging markets and developing economies to create significant environmental, economic, and social impact.
- Its initial focus regions are Southeast Asia, the Caribbean and Central America, Africa, and India.
Key points about the International Finance Corporation
- It was founded in 1956 with Washington, DC as its headquarters.
- It is a member of the World Bank Group.
- Mandate: Advance economic development and improve the lives of people by encouraging the growth of the private sector in developing countries.
- Functions:
- It helps countries develop their private sectors in a variety of ways
- Investing in companies through loans, equity investments, debt securities and guarantees.
- Mobilising capital from other lenders and investors through loan participations, parallel loans and other means.
- Advising businesses and governments to encourage private investment and improve the investment climate.
- Governance: The IFC is owned and governed by its member countries. It is a corporation whose shareholders are member governments that provide paid-in capital and have the right to vote on its matters.
