International Finance Corporation:
The Medical Education and Drugs Department (MEDD) and International Finance Corporation (IFC) have joined forces to prioritise health care projects with emphasis on Medical Education under the public-private partnership (PPP) model in Maharashtra.
- IFC will be the transaction advisor for the PPPs to develop super-specialty hospitals and medical education facilities across the state.
- International Finance Corporation (IFC) is an international financial institution that offers investment, advisory, and asset management services to encourage private sector development in developing countries.
- It is a member of the World Bank Group and is headquartered in Washington, D.C., United States.
- It was established in 1956 as the private sector arm of the World Bank Group to advance economic development by investing in strictly for-profit and commercial projects that purport to reduce poverty and promote development.
- 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 which have the right to vote on its matters.