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Moving beyond low income countries makes sense for an institution focused on ending extreme poverty. But does the IFC follow through by focusing on the countries that are home to the extreme poor? Not really.
IFC Spokesman Frederick Jones has replied to our blog on the IFC’s risk appetite. First off, thanks to Fred and the IFC for replying. The Corporation has a unique role to play in global development finance and we’re keen for that role to grow, so we’re happy that the report has generated so much conversation about IFC’s portfolio, both within and outside IFC. And second, we commend IFC for its plans to do more in poor countries and those that are classified as fragile states—it is where the Corporation can have the most impact and where it is most needed.
Since the publication of our paper on the IFC’s project portfolio last week, we have received several helpful comments from readers. They plausibly suggest that the portfolio may be (even) less risky than we suggested, with even more space to pivot towards the low income countries where the IFC can make the most difference. But until the IFC publishes more information, we won’t really know.
The IFC is designed to catalyze investments in countries that investors might consider too risky to invest in alone. But our recent analysis of IFC’s portfolio found that it is shying away from risky investments, raising serious questions about whether the IFC is focusing on the places where it can make the most difference.
As 2012 winds down, it's time once again to look back at the most popular posts to our Views from the Center blog. Surprisingly, posts on the selection process for the World Bank president accounted for four of the top 10.
Update: On March 29, the U.S. Senate confirmed Pamela White to be Ambassador of the United States of America to the Republic of Haiti.
Assuming she is confirmed by the Senate, Pamela White is set to become the next U.S. ambassador to Haiti. In her March 14 confirmation hearing, White and the senators agreed on one message: Haiti’s unstable government is impeding post-earthquake recovery, including U.S. aid efforts. But White could consider alternative approaches—from migration policy to mobile money—that might do more to help Haitians right now.