Although many Ghanaians might not know what the International Finance Corporation (IFC) stands for, the effects of their interventions and support trickle down on the citizenry subtly. This critical arm of the World Bank, tucked away from the hustle and bustle of Accra, near Gulf House dangled its key achievements to the media, during an event to introduce the lady taking over from hardworking Imoni Akpofure, who is relocating to Paris, France. Aida Der Hovanessian has been moved from her Madagascar base to hold fort for the next six months or so until a substantive person is appointed. The work of IFC has touched many important sectors of the economy in manners which has impacted on the nation’s development, and many think there is now something about the operations of the organization which makes it tick in these past few years. From education to mining, they have made some fantastic achievements even though there are challenges, which this paper has gathered are being worked on. The interest showed by the institution’s schedule officers when they engaged the press a couple of days was ample evidence about the extra mile, which they are willing to go. Under their Africa Schools Programme, a $50 million investment facility, which is to be disbursed through commercial banks, is intended to expand lending to private schools on the continent. The programme also seeks to tackle management and quality challenges being encountered by private schools. It was first piloted in Ghana in 2005, but has now become a full-fledged continental programme having been replicated in Kenya and Rwanda. The objective of the programme is to eventually increase enrolment, school revenues and enhance management. In the area of tertiary education, IFC has learnt support of $25 million to Ashesi University College for its expansion programme. In the area of agricultural business, IFC is still working on a deal that will face-off, the generally small nature of production on the continent. Newmont mining ventures have not been left out of the support activities of the IFC, with the extractive giant availing itself for a number of products, which are geared towards improving its operations. The support comes under IFC’s Infrastructure Cluster programme, which is aimed at the mining, oil and gas, and chemicals infrastructure. Traditional infrastructure such as telecommunications, roads, rails, ports and airports are also given support. The mining portfolio of IFC stands at $75 million and relates to the Ahafo project of Newmont Ghana. Under the SME Linkages Programme, IFC focuses on supplier development, income generating opportunities and access to finance in the mining sector. The story is said to be different in the emerging Oil and Gas sector of the Ghanaian economy, with IFC’s portfolio currently standing at US$215 million. IFC is supporting Kosmos and Tullow in the preparation of the environmental and social management plans of the project. The telecoms portfolio has witnessed the provision of $90 million, and the further mobilization of a $70 million in syndications, which is to help Zain Ghana expand its mobile telecommunications network. MTN have been extended $40 million for a network roll out at the time when the company was Areeba. The inroads being chalked in telephony sector of the country is no doubt the effect of some of their supports. There are still many challenges ahead, but management of the corporation has served notice of their readiness to overcome these challenges. Some key decisions are by and large been taken locally as opposed to the previous order, where they were referred to Washington for advice. The corporation has now augmented its staff strength in the country, which oversees other operations in some African countries from Accra. Source: Daily Guide/Ghana