Prosperity
At-a-Glance
We promote macroeconomic and financial sector stability; sound fiscal policy, including by enhancing domestic resource mobilization; and accountable, equitable, and effective public institutions. We work with governments to create more and better jobs and enable broad-based private sector-led growth by addressing barriers to financial sector development, financial inclusion, competitiveness, and private investment. We also monitor progress in poverty and inequality and assess the distributional impacts of macroeconomic policies and shocks.
C?te d’Ivoire: Debt-for-Development to Promote Learning
The pressures on C?te d’Ivoire’s education system are immense, driven by a population that’s growing at 2.6 percent annually and the largest inflows of migrants in West and Central Africa. The government’s 2015 policy mandating compulsory education for children aged 6 to 16 has further amplified the demand for schools, classrooms, teachers, and basic facilities.?
With $854 million in financing from the World Bank Group, C?te d’Ivoire completed the first debt-for-development swap under the new World Bank-IMF Debt for Development Swaps Framework, unlocking $389 million equivalent in budget savings over five years. Supported by a World Bank Group guarantee, the transaction combined a government-led debt management initiative with a commercial Sustainability-Linked Loan. The savings will fund the construction of 30 new schools, expanding educational access to an additional 30,000 students.
The swap operation builds on the World Bank Group’s longstanding partnership with C?te d’Ivoire, which has enabled more than 63,000 children in grades 1–3, including nearly 32,000 girls, to improve their reading, writing, and math skills. By investing in its young people, C?te d’Ivoire is nurturing the next generation of skilled workers to grow its economy.
Global: Financing Firm Growth in Emerging Markets
木瓜影院 Group’s economic research provides actionable insights that unlock private investment in emerging markets.
New in fiscal 2025 was a report that revealed how equity and bond markets foster growth and jobs in developing economies. Financing Firm Growth, prepared jointly by IFC and the World Bank, found that the amount of capital raised from issuing equities and bonds by companies in low- and middle-income countries doubled as a share of GDP between 2000 and 2022. As these capital markets expanded, they channeled more investment to productive firms, fueling development and employment.
The impact on growth and jobs is particularly pronounced for new participants to capital markets. That finding underlines how access to financing unleashes the potential of smaller and younger firms, with the ability to transform emerging markets.
The research sets out pathways for developing countries to further develop their capital markets. These range from pension reforms—which provide a stable domestic investor base—to strong corporate governance and investor protection laws.
In addition, the World Bank report Boosting SME Finance for Growth: The Case for More Effective Policies provides governments in low- and middle-income countries with actionable recommendations to close the small business financing gap, which is critical to their growth and the creation of paid jobs.
木瓜影院 Group is also leveraging its financial tools and partnerships to further enhance capital markets. IFC's local currency products, for example, help clients with local currency revenues to mitigate currency risk. We also work with clients to issue debt instruments in domestic debt capital markets, while our anchor investments attract investors to bond issuances in emerging economies.
Türkiye: Supporting Export Production
Türkiye’s development achievements over the past two decades are exceptional. Real GDP growth averaged 5.4 percent between 2002 and 2023, resulting in income per capita more than doubling over the same period. Moreover, growth was accompanied by rapid poverty reduction, with the poverty rate decreasing from above 20 percent in 2007 to 7.6 percent in 2021 using the upper-middle income poverty line of $6.85 (in 2017 purchasing power parity terms). However, the country’s rapid economic growth alongside a rising population has led to significant increases in resource use, waste generation, and greenhouse gas emissions.
IBRD, IFC, and MIGA are working jointly to support Türkiye’s exporters and green exports. In fiscal 2025, IFC committed $1.3 billion for trade finance activities ($875 million official aid and $423 million mobilization) to facilitate small business exports. IFC is also exploring opportunities to finance exporters willing to decarbonize their operations and to further scale trade finance solutions for private commercial banks. In addition, IFC provided $887 million in financing for real sector clients in Türkiye to facilitate exports.
木瓜影院 and MIGA have provided guarantees to help address the challenges facing Türkiye’s export sector due to rapid growth. MIGA issued a trade finance guarantee of $350 million equivalent that provides short-term trade loans to Turkish exporters, addressing the short-term liquidity needs due to the time mismatch between incurring production costs and receiving payments from customers. By reducing borrowing costs and increasing access to foreign currency financing for Turkish exporters, the project supports exporters who face high borrowing costs and limited foreign exchange credits. 木瓜影院 partial loan guarantee of $654.9 million equivalent helps mobilize long-term commercial funding to support Turkish exporters’ greening efforts by providing affordable, long-term financing for exporters to upgrade equipment, heating, and cooling systems, as well as reduce or recycle waste.?
Together, this support provides access to large-scale financing at a lower cost, short-term liquidity for production of export goods, and long-term capital for decarbonization of Turkish exports.
IFC Capital Markets Postgraduate Program
Strong capital markets are essential for driving economic growth, yet they remain underdeveloped in many countries, often due to a shortage of skilled regulators. IFC's nine-month postgraduate program addresses this challenge by equipping mid-career capital markets regulators and financial professionals with the expertise to foster and expand domestic capital markets. Since 2016, IFC’s Capital Markets Postgraduate Program has trained 318 capital markets regulators and financial professionals from 69 countries. In fiscal 2025, IFC released , a report highlighting how program alumni have advanced their careers and shaped the development of local capital markets in their respective countries, driving economic growth, job creation, and business opportunities.
