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International Finance Corporation annual report 1968 (English)

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  • International Finance Corporation annual report 1968 (English)
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Title International Finance Corporation annual report 1968 (English)
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Material Type Reports
Publisher

World Bank (WB)

Date 1968
Language English
File Type Link
Subject Economy < Macroeconomics

Abstract

The International Finance Corporation made its largest investment in fiscal year 1968 for the development of copper deposits in the Sahara Desert. IFC joined with an investment group to help finance the new $60 million mining company. IFC's presence in this investment group and in similarly large and varied investment groups which financed a new development bank in Korea and a new textile producer in Nicaragua, emphasized the Corporation's favorable position as a central consortia wielding together the strengths of national, international, and intergovernmental investors, public and private, as well as financial, industrial, and institutional investors. Further highlights of this fiscal year included: Total commitments reached a new high, the average annual return over the present life on all investments held in IFC's portfolio increased as compared with the return a year earlier, the role IFC can play as an underwriter in helping companies to expand, and the Corporation's continuing interest in the growth of companies it has helped were emphasized in IFC's largest underwriting operation to date, first commitments were made in Korea, Mauritania, and Nicaragua, and for the first time, an IFC-supported project in a Central American country had a technical sponsor from Latin America.