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Washington, DC, October 16, 2013—IFC, a member of the World Bank Group, and a network of its clients have launched the Inclusive Business Council—a network of emerging market executives whose companies use market-based solutions that provide income opportunities and affordable goods and services to poor people.
The Inclusive Business Council, led by IFC clients, will promote inclusive business models with other companies, development institutions, academia, and foundations and allow them to continue to learn from each other’s experiences. The launch was part of IFC’s 4
th
Annual Inclusive Business Leaders Forum held on the sidelines of the World Bank Group-IMF Annual Meetings and attended by close to 100 participants.
“The Inclusive Business Council is an opportunity to share examples of proven inclusive business models which can provide a competitive edge for many more private sector companies,” said Toshi Masuoka, IFC Director for Inclusive Business Models Group. “Emerging market companies with localized value chains have tremendous knowledge about how to integrate people of low incomes into the economy, creating value for all and boosting prosperity for the bottom 40 percent of the population in developing countries—a goal of the World Bank Group.”
Since 2005, IFC has committed more than $9 billion in investments to over 400 clients in over 90 developing countries that in a financially sustainable way make the working poor a part of the value chain of the company’s core business. These clients operate in sectors such as water, food, housing, electricity, telecommunications, education, and healthcare. For more information, visit
www.ifc.org/inclusivebusiness
.
The Inclusive Business Council formalizes a network of IFC clients who are at the forefront of inclusive business. Representatives from the following companies endorsed the launch of the Council and received the 2013 Inclusive Business Leaders Award:
Aadhar Housing Finance Ltd. (AHFL), India
AEGEA Saneamento, Brazil
Agrofinanzas, Mexico
Financial Inclusion Network and Operations Paytech Ltd. (FINO), India
Food Concepts, Nigeria
Fundacion Cardiovascular (FCV), Colombia
Manila Water Company (MWC), Philippines
Saro Agrosciences Ltd., Nigeria
Tribanco, Brazil
Corporacion Universitaria Minuto de Dios (Uniminuto), Colombia
Vegpro Group, Kenya
VINTE, Mexico
WaterHealth International, USA
About IFC
IFC, a member of the World Bank Group, is the largest global development institution focused exclusively on the private sector. Working with private enterprises in more than 100 countries, we use our capital, expertise, and influence to help eliminate extreme poverty and promote shared prosperity. In FY13, our investments climbed to an all-time high of nearly $25 billion, leveraging the power of the private sector to create jobs and tackle the world’s most pressing development challenges. For more information, visit
www.ifc.org
.
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