Argentina

Total commitments to development projects assisted by IFC if fiscal year 1969, taking account of the commitments of others and of IFC at the time of the IFC investments,... Show More + came to $500 million, for the first time. Total commitments made together with IFC in all of the 131 development enterprises assisted by IFC since its inception passed the 2000 million mark during the fiscal year. A quarter of the amount of IFC's commitments were to agribusiness enterprises: investments that added or expanded an industry in the economy of a member country while at the same time helping to improve or expand agriculture. Over half of the year's investments were other industrialization projects. The remainder were investments in tourism and development banking. Strong support for IFC's investments from private investors helped replenish the Corporation's funds. To reach a wider range of development projects, IFC continued to diversify its investments, and to increase the flexibility of its operations. In fiscal 1969, the Corporation undertook wider responsibilities in the promotional field; made the largest commitment in its history; made first investments in printing and publishing, raw silk production, and animal feed additives; helped set up a petrochemicals industry in Brazil; and made its third largest investment in a new Indian fertilizer enterprise. Show Less -