<Tr> <Th> Parent organization </Th> <Td> World Bank Group </Td> </Tr> <Tr> <Th> Website </Th> <Td> ifc.org </Td> </Tr> <P> 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 . The IFC is a member of the World Bank Group and is headquartered in Washington, D.C. . It was established in 1956, as the private - sector arm of the World Bank Group, to advance economic development by investing in for - profit and commercial projects for poverty reduction and promoting development . The IFC's stated aim is to create opportunities for people to escape poverty and achieve better living standards by mobilizing financial resources for private enterprise, promoting accessible and competitive markets, supporting businesses and other private - sector entities, and creating jobs and delivering necessary services to those who are poverty stricken or otherwise vulnerable . </P> <P> Since 2009, the IFC has focused on a set of development goals that its projects are expected to target . Its goals are to increase sustainable agriculture opportunities, improve healthcare and education, increase access to financing for microfinance and business clients, advance infrastructure, help small businesses grow revenues, and invest in climate health . </P>

What is the primary purpose of the international finance corporation
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