International Finance Corporation-Board of Governors Resolution-No. 279 Financial Statements

Jul 19, 2026

This document is a resolution from the Board of Governors of the International Finance Corporation (IFC), specifically Resolution No. 279. It pertains to the review and approval of the corporation's financial statements, accountants' report, administrative budget, and the designation of retained earnings for the fiscal year 2023. The resolution states that the Consolidated Financial Statements and Independent Auditors' Report, as presented in the 2023 Annual Report, along with the Administrative Budget detailed in the Report to the Board of Governors on IFC’s FY23 Operational and Financial Results and FY24 Budget, fulfill the requirements of Article IV, Section 11 of the Articles of Agreement and Section 16 of the By-Laws. Furthermore, it resolves that the FY23 Net Income of US$672 million will be transferred to undesignated retained earnings. Additionally, the resolution notes with approval the authorization for the corporation to designate US$60 million of retained earnings for IFC’s Funding Mechanism for Technical Assistance and Advisory Services (FMTAAS) within its Fiscal Year 2023 financial statements. This resolution was adopted on October 13, 2023.

LanguageEnglish

CategoryResearch & Report

FormatPDF

Pages1

Reading Time3 min

Financial Statements, Accountants’Report, Administrative Budget and Designation of Retained Earnings

FAQs

What is the purpose of Resolution No. 279 of the IFC Board of Governors?

Resolution No. 279 addresses the review and approval of the IFC's consolidated financial statements, accountants' report, administrative budget, and the designation of retained earnings for FY23.

How much of the FY23 Net Income is being transferred to retained earnings?

The IFC's FY23 Net Income of US$672 million is to be transferred to undesignated retained earnings.

What is the designated amount for IFC's Funding Mechanism for Technical Assistance and Advisory Services (FMTAAS)?

The corporation is authorized to designate US$60 million of retained earnings for the FMTAAS in IFC's Fiscal Year 2023 financial statements.

Jul 19, 2026

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