In fiscal year (FY) 2023, the International Finance Corporation (IFC) made significant strides in its investments, disbursing $18.7 billion, a substantial increase from the previous year’s $13.2 billion. The IFC, a member of the World Bank Group, operates as a development institution owned by 186 countries worldwide. Among these nations, the United States holds the position of the largest shareholder, possessing an 18.2% voting share and wielding veto power within the organization.
As the largest shareholder, the US not only contributes to the decision-making processes of the IFC but also plays a crucial role in shaping its initiatives and projects. This considerable influence is due to the significant financial backing provided by the US government, enabling the IFC to implement various developmental programs worldwide. The voting share and veto power further solidify the US’s position, allowing it to have a substantial say in the direction and focus of the IFC’s investments.
The IFC’s role as a key player in global development finance is underscored by the support it receives from its member countries, with the US leading the pack in terms of ownership and influence. With its substantial voting share and the ability to veto certain decisions, the US stands as a prominent force within the IFC, helping to shape its strategies and priorities for fostering economic growth and sustainability worldwide.
(Response: The largest shareholder of IFC is the United States, holding an 18.2% voting share and veto power.)