Finance Corporation Popular Books
Finance Corporation Biography & Facts
The International Finance Corporation (IFC) is an international financial institution that offers investment, advisory, and asset-management services to encourage private-sector development in less developed countries. The IFC is a member of the World Bank Group and is headquartered in Washington, D.C. in the United States. It was established in 1956, as the private-sector arm of the World Bank Group, to advance economic development by investing in for-profit and commercial projects for poverty reduction and promoting development. The IFC's stated aim is to create opportunities for people to escape poverty and achieve better living standards by mobilizing financial resources for private enterprise, promoting accessible and competitive markets, supporting businesses and other private-sector entities, and creating jobs and delivering necessary services to those who are poverty stricken or otherwise vulnerable.Since 2009, the IFC has focused on a set of development goals that its projects are expected to target. Its goals are to increase sustainable agriculture opportunities, improve healthcare and education, increase access to financing for microfinance and business clients, advance infrastructure, help small businesses grow revenues, and invest in climate health.The IFC is owned and governed by its member countries but has its own executive leadership and staff that conduct its normal business operations. It is a corporation whose shareholders are member governments that provide paid-in capital and have the right to vote on its matters. Originally, it was more financially integrated with the World Bank Group, but later, the IFC was established separately and eventually became authorized to operate as a financially autonomous entity and make independent investment decisions. It offers an array of debt and equity financing services and helps companies face their risk exposures while refraining from participating in a management capacity. The corporation also offers advice to companies on making decisions, evaluating their impact on the environment and society, and being responsible. It advises governments on building infrastructure and partnerships to further support private sector development. The corporation is assessed by an independent evaluator each year. In 2011, its evaluation report recognized that its investments performed well and reduced poverty, but recommended that the corporation define poverty and expected outcomes more explicitly to better-understand its effectiveness and approach poverty reduction more strategically. The corporation's total investments in 2011 amounted to $18.66 billion. It committed $820 million to advisory services for 642 projects in 2011, and held $24.5 billion worth of liquid assets. The IFC is in good financial standing and received the highest ratings from two independent credit rating agencies in 2018.IFC comes under frequent criticism from NGOs that it is not able to track its money because of its use of financial intermediaries. For example, a report by Oxfam International and other NGOs in 2015, "The Suffering of Others," found the IFC was not performing enough due diligence and managing risk in many of its investments in third-party lenders.Other criticism focuses on IFC working excessively with large companies or wealthy individuals already able to finance their investments without help from public institutions such as IFC, and such investments do not have an adequate positive development impact. An example often cited by NGOs and critical journalists is IFC granting financing to a Saudi prince for a five-star hotel in Ghana. History The World Bank and International Monetary Fund were designed by delegates at the Bretton Woods conference in 1944. The World Bank, then consisting of only the International Bank for Reconstruction and Development, became operational in 1946. Robert L. Garner joined the World Bank in 1947 as a senior executive and expressed his view that private business could play an important role in international development. In 1950, Garner and his colleagues proposed establishing a new institution for the purpose of making private investments in the less developed countries served by the World Bank. The U.S. government encouraged the idea of an international corporation working in tandem with the World Bank to invest in private enterprises without accepting guarantees from governments, without managing those enterprises, and by collaborating with third party investors. When describing the IFC in 1955, World Bank President Eugene R. Black said that the IFC would only invest in private firms, rather than make loans to governments, and it would not manage the projects in which it invests.The concept was nonetheless controversial in the US, where some business interests were uncomfortable with the public ownership of private firms. Nonetheless, in 1956, the International Finance Corporation became operational under the leadership of Garner. It initially had 12 staff members and $100 million (equivalent to $1121 million in 2023) in capital. The corporation made its inaugural investment in 1957 by making a $2 million (equivalent to $22 million in 2023) loan to a Brazil-based affiliate of Siemens & Halske (now Siemens AG).In 2007, IFC bought 18% stake in the Indian Financial firm, Angel Broking. In December 2015, IFC supported Greek banks with 150 million euros by buying shares in four of them: Alpha Bank (60 million), Eurobank (50 million), Piraeus Bank (20 million) and National Bank of Greece (20 million). Governance The IFC is governed by its Board of Governors which meets annually and consists of one governor per member country (most often the country's finance minister or treasury secretary). Each member typically appoints one governor and also one alternate. Although corporate authority rests with the Board of Governors, the governors delegate most of their corporate powers and their authority over daily matters such as lending and business operations to the board of directors. The IFC's Board of Directors consists of 25 executive directors who meet regularly and work at the IFC's headquarters, and is chaired by the President of the World Bank Group. The executive directors collectively represent all 186 member countries. When the IFC's Board of Directors votes on matters brought before it, each executive director's vote is weighted according to the total share capital of the member countries represented by that director.IFC is currently led by Makhtar Diop who was appointed as the institution's Managing Director and Executive Vice President in February 2021. Prior to this appointment, he was the World Bank's Vice President for Infrastructure, where he led the Bank's global efforts to build sustainable infrastructure in developing and emerging economies. Although the IFC coordinates its activities in many areas with the other World Bank Group institutions, it generally operates independently as it i.... Discover the Finance Corporation popular books. Find the top 100 most popular Finance Corporation books.
Best Seller Finance Corporation Books of 2024
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Good Corporation, Bad Corporation
Guillermo C. JimenezThis textbook provides an innovative, internationallyoriented approach to the teaching of corporate social responsibility (CSR) and business ethics. Drawing on case studies involvi...
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The Informant
Kurt EichenwaldFrom an awardwinning New York Times investigative reporter comes an outrageous story of greed, corruption, and conspiracywhich left the FBI and Justice Department counting on the...
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Makers and Takers
Rana ForooharIs Wall Street bad for Main Street America?"A welltold exploration of why our current economy is leaving too many behind." The New York Times In looking at the forces that shaped t...
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The Corner Office
Adam BryantDozens of top CEOs reveal their candid insights on the keys to effective leadership and the qualities that set high performers apartWhat does it take to reach the top in business a...
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Read Write Own
Chris DixonNEW YORK TIMES BESTSELLER A potent exploration of the power of blockchains to reshape the future of the internetand how that affects us allfrom influential technology entrepreneur...
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No Logo
Naomi KleinA Tenth Anniversary Edition of Naomi Klein's No Logo with a New Introduction by the AuthorNO LOGO was an international bestseller and "a movement bible" (The New York Times). Naomi...
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Greedy Bastards
Dylan RatiganThe host of the eponymous MSNBC show, Dylan Ratigan offers a bold and original postpartisan program to resuscitate the American Dream. At a time of deep concern with the state of A...
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Fascinate
Sally HogsheadA newly revised and updated edition of the influential guide that explores one of the most powerful ways to attract attention and influence behaviorfascinationand how businesses, p...
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The Lords of Easy Money
Christopher LeonardThe Wall Street Journal Best Book of the Year NEW YORK TIMES BESTSELLER The New York Times bestselling business journalist Christopher Leonard infiltrates one of America’s most my...
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The Fair Tax Book
Neal Boortz & John LinderWouldn’t you love to abolish the IRS . . .Keep all the money in your paycheck . . .Pay taxes on what you spend, not what you earn . . .And eliminate all the fraud, hassle, and wast...
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Conspiracy of Fools
Kurt EichenwaldFrom an awardwinning New York Times reporter comes the full, mindboggling true story of the lies, crimes, and ineptitude behind the Enron scandal that imperiled a presidency, des...
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Ladies Who Punch
Ramin SetoodehTHE INSTANT NEW YORK TIMES AND WALL STREET JOURNAL BESTSELLER Like Fire & Fury, the gossipy reallife soap opera behind a serious show. When Barbara Walters launched The View, n...
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American Icon
Bryce G. HoffmanThe inside story of the epic turnaround of Ford Motor Company under the leadership of CEO Alan Mulally. At the end of 2008, Ford Motor Company was just months away from runnin...
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The House of Rothschild
Niall FergusonFrom the bestselling author of The Ascent of Money and The Square and the TowerIn his rich and nuanced portrait of the remarkable, elusive Rothschild family, Oxford ...
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How to Lead
David M. RubensteinThe New York Times Bestseller #1 Wall Street Journal BestsellerThe essential leadership playbook. Learn the principles and guiding philosophies of Bill Gates, Jeff Bezos, Ruth Bade...
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Jack
Jack Welch & John A. ByrneThe most widely respected CEO in America looks back on his brilliant career at General Electric and reveals his personal business philosophy and unique managerial style. Nearly 20 ...
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House of Cards
William D. CohanA blistering narrative account of the negligence and greed that pushed all of Wall Street into chaos and the country into a financial crisis. At the beginning of March 2008, ...
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Dear Chairman
Jeff GrammA sharp and illuminating history of one of capitalism’s longest running tensionsthe conflicts of interest among public company directors, managers, and shareholderstold through ent...
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The Tanning of America
Steve StouteThe business marketing genius at the forefront of today's entertainment marketing revolution helps corporate America get hip to today's new consumerthe tan generation by learning ...
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The 22 Immutable Laws of Marketing
Al Ries & Jack TroutTwo worldrenowned marketing consultants and bestselling authors present the definitive rules of marketing.
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Losing the Signal
Jacquie McNish & Sean SilcoffTHE BASIS FOR IFC FILMS' BLACKBERRYNamed a Best Business Book by The Wall Street Journal, Forbes, Financial Times, and more The riveting, true story of the BlackBerry empireand ho...
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Stress Test
Timothy F. GeithnerNew York Times BestsellerWashington Post BestsellerLos Angeles Times BestsellerStress Test is the story of Tim Geithner’s education in financial crises. As president of ...
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The Trillion-Dollar Conspiracy
Jim Marrs“Jim Marrs can’t be ignored. Few in this country shout about The Truth louder than he.”Dallas ObserverIn The TrillionDollar Conspiracy, Jim Marrs, the New York Times bestselling au...
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Warren Buffett and the Interpretation of Financial Statements
Mary BuffettWith an insider's view of the mind of the master, Mary Buffett and David Clark have written a simple, easytofollow guide for reading financial statements from Warren Buffett's succ...
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Octopus
Guy LawsonOctopus is a reallife thriller that tells the inside story of an audacious hedge fund fraud and the wild search, by a colorful cast of rogues and schemers, for a “secret market” be...
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The Idea Factory
Jon GertnerThe definitive history of America’s greatest incubator of innovation and the birthplace of some of the 20th century’s most influential technologies“Filled with colorful characters ...
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Our Iceberg Is Melting
John Kotter & Holger RathgeberThe revised and updated tenth anniversary edition of the classic, beloved business fable that has changed millions of lives in organizations around the world. Our Iceberg Is M...
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News Corporation
Joseph LetrizA short delve into the history of News Corporation and Fox News, the way journalism has changed over time, as well as how different scandals and practices by the media mogul Rupert...
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The Accidental Billionaires
Ben MezrichNATIONAL BESTSELLER“The Social Network, the much anticipated movie…adapted from Ben Mezrich’s book The Accidental Billionaires.” The New York TimesBest friends Eduardo Saverin and ...
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Present Shock
Douglas RushkoffPeople spent the twentieth century obsessed with the future. We created technologies that would help connect us faster, gather news, map the planet, and compile knowledge. We strov...
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Creative Selection
Ken KociendaWALL STREET JOURNAL BESTSELLER An insider's account of Apple's creative process during the golden years of Steve Jobs.Hundreds of millions of people use Apple products every day; ...
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Play Bigger
Al Ramadan, Dave Peterson, Christopher Lochhead & Kevin ManeyThe founders of a respected Silicon Valley advisory firm study legendary categorycreating companies and reveal a groundbreaking discipline called category design.Winning today isn’...
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Hard Landing
Thomas Petzinger, Jr.In this updated paperback edition of a "rich, readable, and authoritative" Fortune) book, Wall Street Journal reporter Petzinger tells the dramatic story of how a dozen men, includ...
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Platform
Michael HyattHow do you turn your social media accounts into viable business opportunities? Michael Hyatt has the blueprint.Michael Hyatt learned to use his social media platform as t...
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Private Empire
Steve Coll“ExxonMobil has met its match in Coll, an elegant writer and dogged reporter . . . extraordinary . . . monumental.” The Washington Post“Fascinating . . . Private Empire is a b...
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Dollars and Sense
Dr. Dan Ariely & Jeff KreislerNew York Times bestselling author, Dan Ariely, teams up with financial comedian and writer Jeff Kreisler, to delve into the truly irrational world of personal financ...
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Money and Power
William D. CohanThe bestselling author of the acclaimed House of Cards and The Last Tycoons turns his spotlight on to Goldman Sachs and the controversy behind its success. From the outside, G...
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Only the Paranoid Survive
Andrew S. GroveAndy Grove, founder and former CEO of Intel shares his strategy for success as he takes the reader deep inside the workings of a major company in Only the Paranoid Survive.Under A...
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The Smartest Guys in the Room
Bethany McLean & Peter ElkindIn this tenthanniversary edition, acclaimed investigative journalists Bethany McLean and Peter Elkind deliver the definitive account of the fall of Enron, one of the bigg...
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Love Works
Joel ManbyJoel Manby from Undercover Boss shares how leaders at every level can harness the meaning of love, the verb, and improve their culture and bottom line.Before Joel Manby won the res...
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The Wall Street Journal. Complete Real-Estate Investing Guidebook
David CrookThe conservative, thoughtful, thrifty investor’s guide to building a realestate empire.Profitable realestate investing opportunities exist everywhere as long as you know what to lo...
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Lean Thinking
James P. WomackExpanded, updated, and more relevant than ever, this bestselling business classic by two internationally renowned management analysts describes a business system for the twentyfirs...