Correct
Recently, theInternational Finance Corp (IFC) has launched the Global Food Security Platform to strengthen the private sector’s ability to respond to food crisis and boost food production.
This 6 billion USD financing facility will help boost the flow the vital goods and services, including the uninterrupted trade flow of food supplies and other important commodities like fertilizers to vulnerable communities.
It is part of the World Bank’s on-going 30 billion USD initiative that was launched to reduce food insecurity.
The Global Food Security Platform will also help private entities to make new and long-term investment on local food systems in emerging markets to make them more diversified, sustainable and productive.
The platform aims to reduce the food volatility through emergency funding to farmers, food and feed processors, commodity traders, and other stakeholders witnessing funding constraints because of sudden inflation.
It will also assist war-torn Ukraine to restore crop production, food storage, food processing and logistics.
About International Finance Corp:
The 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.
Incorrect
Recently, theInternational Finance Corp (IFC) has launched the Global Food Security Platform to strengthen the private sector’s ability to respond to food crisis and boost food production.
This 6 billion USD financing facility will help boost the flow the vital goods and services, including the uninterrupted trade flow of food supplies and other important commodities like fertilizers to vulnerable communities.
It is part of the World Bank’s on-going 30 billion USD initiative that was launched to reduce food insecurity.
The Global Food Security Platform will also help private entities to make new and long-term investment on local food systems in emerging markets to make them more diversified, sustainable and productive.
The platform aims to reduce the food volatility through emergency funding to farmers, food and feed processors, commodity traders, and other stakeholders witnessing funding constraints because of sudden inflation.
It will also assist war-torn Ukraine to restore crop production, food storage, food processing and logistics.
About International Finance Corp:
The 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.
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