The International Financial Corporation Internship is organized by the Global Internship Program (GIP), a program that gives highly motivated individuals the chance to learn about the goals and activities of IFC and the larger World Bank Group and join the largest private sector development organization in the world.
The program invites participants to contribute fresh viewpoints and ground-breaking concepts to IFC’s work while honing their abilities in a multifaceted and intellectually demanding setting. Additionally, the Global Internship Program offers a special chance to network with experts working to eradicate extreme poverty and increase wealth in developing countries.
Read further to learn all you need about the International Financial Corporation Internship 2023.
The International Financial Corporation.
The International Financial Corporation is the organizer of the IFC internship program. Also known as IFC, it is an international financial organization that offers investment, advisory, and asset management services. It offers its services to private sector institutions in less developed countries. It is a member of the World Bank Group and has its headquarters in Washington, United States.
The International Finance Corporation started in 1956 as a private sector subsidiary of the World Bank Group. Its goal remains to advance economic development by investing in profit-oriented and commercial projects. Such projects must have an orientation to be for poverty reduction and promoting development in less developed areas.
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What is the IFC about?
The IFC’s goal is to create opportunities for people to escape poverty as well as achieve better living standards. The group goes about this by mobilizing financial resources for entrepreneurs, promoting accessible markets, and supporting developing businesses. They also create jobs and deliver necessary services to those who are in poverty and, as such, are vulnerable.
The International Finance Corporation has focused on a set of development goals. These goals are projects that are expected to target the poor and vulnerable. Its goals are to increase sustainable agriculture opportunities and improve healthcare and education. They also focus on increasing access to financing for microfinance business clients, advancing infrastructure, helping small businesses grow revenues, and investing in a healthy climate (climate health).
Management and organizational governance.
The IFC is run and governed by member countries. However, it still has its own executive leadership and staff that run its normal business operations. The IFC’s shareholders are member governments that provide capital and have the right to vote on matters. It was more financially integrated with the World Bank Group but later became an independent investment organization.
The organization has 184 member countries and investments worth several hundreds of millions in several organizations. Such organizations include Siemens, Angel Broking, and several others. In 2015, the organization supported Greek banks with 150 million euros by buying shares in four of them: Alpha Bank (60 million), Eurobank (50 million), Piraeus Bank (20 million), and National Bank of Greece (20 million).
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The IFC Global Internship Program.
The International Financial Corporation Global Internship Program (GIP) offers motivated individuals an opportunity to intern with them. The internship helps expose these individuals to the dreams and aspirations of IFC and the World Bank Group. It also allows them to be part of the world’s largest private sector development organization.
The GIP receives over 1500 applications from interested candidates each year. Applicants then undergo departmental interviews. Successful candidates are contacted and directly hired by departments interested in them worldwide. This is based on their business need and the candidate’s profile. The hiring department pays its selected interns.
Hirings and duration
The IFC hires these interns to work on in-house projects for a couple of weeks, usually between May and October. The internship may be held in Washington, D.C., or any of the IFC’s country or regional offices where the student is selected.
The selected interns are offered short-term contracts with IFC. These contracts are primarily temporary. The GIP encourages interns to bring new and innovative ideas while improving their skills in a highly stimulating environment.
The interns also carry out operational assignments covering various work areas, such as participation in sector-specific market mapping, investment proposal reviews, financial modeling, and analysis, among other advisory activities. Other assignments are also available, ranging from activities incorporated to support departments.
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Internship programs and how to apply.
IFC offers opportunities for talented and diverse individuals. It allows them to contribute and grow their skills as they delve into their international development and finance career. The IFC expects candidates to have strong financial skills, professional achievement, leadership potential, and a demonstrated commitment to development. Positions may be based in Washington, DC, or several regional offices.
For current students:
Global Internship Program: The IFC’s GIP is available for students undergoing an MBA or any other graduate program.
For young professionals and recent graduates:
WBG Young Professionals Program (IFC Placement): The IFC also offers programs for current students or recent graduates of MBA or relevant Master’s degree programs.
From time to time, the IFC organizes outreach events. These are events where they travel to career fairs, recruitment events, and presentations to multiple countries worldwide.
The IFC internship program looks out for students and recent graduates from diverse fields of knowledge. These students and young graduates are to apply by themselves online to be eligible for screening. Below is a list of the areas of study with the highest demand in this program:
- Economics,
- Finance and financial management,
- Public Health and Education,
- Social Sciences,
- Agriculture,
- Environment sciences,
- Private Sector Development e.t.c.
Interested candidates should visit their website to find out all they need to know about the IFC internship program for 2022-2023.
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Other factors which are considered for shortlisting include
Fluency in English is of high value. However, proficiency in Spanish, French or other relevant languages would also be an advantage.
- Applicants must be at least 18 years old at the time of enrollment.
- Applicants must be citizens of a World Bank Group member country.
- Other core areas of competence required include;
- Technical expertise.
- Diverse nationalities and experiences.
- Strong teamwork and interpersonal skills.
- Geographical mobility, etc.
- The IFC internship program also frowns at some of the following.
- Applicants must not be a relative of any staff member at IFC.
Graduate applicants must have completed their program before applying. Subsequently, undergraduate applicants must also be readily available, should they be selected. The IFC reserves no seat for any applicant.
So, visit their website today to begin your application for the International Financial Corporation internship program.
FAQs
An internship with SEP entails a summer of collaboration with experienced engineers, designers, and managers on actual client and company initiatives. Additionally, you have the chance to take part in social gatherings, professional development activities, and community service projects.
IFC short-lists applicants after receiving job applications. IFC gives applicants an email notification as soon as the interview process for these short-listed individuals is finished as well as the necessary paperwork. Security and reference checks come next, and then a letter of appointment.
Excellent health, medical care, retirement plans, paid time off, and other job advantages are available to them. With the firm, employees have a strong opportunity to succeed, and there are chances for advancement.
IFC is the largest international development institution concentrating only on the private sector in developing nations. It is a sister organization of the World Bank and a member of the World Bank Group.
Our Council. IFC was founded in 1956 and is owned by 186 member nations, jointly deciding on our policies. Our member nations direct IFC’s programs and operations through a Board of Governors and a Board of Directors. Each nation that makes up our membership names a governor and an alternative.
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