Stepping Up in a Time of Uncertainty - 2022 Annual Report

Jul 19, 2026

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Stepping Up in a Time of Uncertainty, the IFC 2022 Annual Report, describes how the World Bank Group and IFC intensified support amid compounding crises, including the COVID-19 pandemic and the war in Ukraine. It outlines record financing commitments, focuses on health and vaccine procurement, and addresses spillover risks to trade, investment, confidence, and financial stability. The report also highlights board-approved initiatives, partnerships with donors and stakeholders, and priorities tied to poverty reduction, shared prosperity, and a greener, more inclusive recovery.

LanguageEnglish

CategoryResearch & Report

FormatPDF

Pages83

Reading Time3 h 29 min

Letter from the IFC Board

Letter from David Malpass, World Bank Group President

Letter from Makhtar Diop, IFC Managing Director

Our Management Team

Results

World Bank Group 2022 Summary Results

IFC 2022 Year in Review

Strategy in Action

Stepping Up in a Time of Uncertainty

Critical Functions

Measuring Up

Sustainability

Accountability and Oversight

Diversity, Equity, and Inclusion

ure Authorized Pub lic Disclosure Authorized Pub lic Disclosure Authorized Pub lic Disclosure Authorized STEPPING UP INA TIME OF UNCERTAINTY 2022 ANNUAL REPORT 2 4 6 9 10 12 16 50 52 54 56 CONTENTS Letter from the IFC Board Letter from David Malpass, World Bank Group President Letter from Makhtar Diop, IFC Managing Director Our Management Team RESULTS World Bank Group 2022 Summary Results IFC 2022 Year in Review STRATEGY INACTION Stepping Up in a Time of Uncertainty CRITICAL FUNCTIONS Measuring Up Sustainability Accountability and Oversight Diversity, Equity, and Inclusion Additional information is available on IFC’s Annual [Report 2022 website: www.ifc.org/AnnualReport](Report 2022 website: www.ifc.org/AnnualReport). Cover (Vietnam): Stepping Up in a Time of Uncertainty tells the story of IFC’s determined effort to move forward, with urgency, despite mounting challenges worldwide. ABOUT IFC IFC—a member of the World Bank Group—is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2022, IFC committed a record $32.8 billion to private companies and financial institutions in developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity as economies grapple with the impacts of global compounding crises. For more information, visit [www.ifc.org](www.ifc.org). IFC ANNUAL REPORT 2022 1 IFC BOARD LETTER FROM THE IFC BOARD Over the last year, our shareholders asked the World Bank Group to provide exceptional support in response to the compounding crises of the COVID-19 pandemic and the war in Ukraine, in addition to its ongoing and extensive portfolio of work. This resulted in unprecedented levels of financing by the World Bank Group in fiscal 2022, including $70.8 billion by IBRD and IDA,$32.8 billion (including mobilization) by IFC, and $4.9 billion in guarantees by MIGA. By financing health operations, vaccine procurement, and other initiatives, the Bank Group has helped developing countries and their people and businesses continue to address the impacts of the pandemic on poverty, health care, human and economic development, and well-being. The Bank Group has also rapidly addressed the far-reaching consequences of anew crisis, the war in Ukraine. The spillover effects are many—beyond the impacts related to refugees, food security, and energy, the conflict poses uncertain and potentially lasting consequences on trade channels, foreign investment, global confidence, and financial stress. Anchored by the Bank Group’s twin goals of poverty reduction and shared prosperity, with a focus on fostering green, resilient, and inclusive development, the Board discussed and approved several important initiatives and programs to respond to these crises. But the needs are many, and more can be done. The Bank Group is working with donor countries to mobilize financial support through diverse channels, including the Fund for Pandemic Prevention, Preparedness, and Response, as well as special guarantees and grant financing for Ukraine. The Bank Group is also working with stakeholders on the ground to implement important programs, such as the World Bank Group Climate Change Action Plan (CCAP), IFC’s Global Health Platform, MIGA’s Fast-Track COVID-19 Response Program and the Bank’s COVID-19 Strategic Preparedness and Response Program, as well as efforts to address debt vulnerabilities, boost the resilience of food systems, and support energy access and transition. We continue to stress the need to address the key drivers of fragility and poverty—in Afghanistan, Haiti, Sudan, Yemen and elsewhere—in order to build human capital, reduce inequality, promote jobs, and foster economic recovery. Given the immense need for financing, the I

FAQs

What challenges does IFC address in its 2022 annual report narrative?

The report focuses on compounding crises, especially the COVID-19 pandemic and the war in Ukraine, and the resulting impacts on poverty, health, markets, and global stability.

How does the report describe IFC’s role and financing in 2022?

It highlights record commitments by IFC and the World Bank Group to private companies and financial institutions, using capital and expertise to expand markets and opportunities in developing countries.

What strategic priorities guide the report’s approach?

The report emphasizes poverty reduction and shared prosperity, alongside support for green, resilient, and inclusive development, including health systems strengthening, debt vulnerabilities, and food system resilience.

Jul 19, 2026

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