World Bank Group Timeline
IFC makes its first investment
The $2 million investment in Siemens' Brazilian affiliate is made in conjunction with an $8.5 million investment by the affiliate's parent company, Siemens of Germany. The loan is to be used to expand plant facilities for the manufacture of electric generating equipment, switchgear, transformers, large motors, and accessories for utility and industrial application as well as telephone equipment.
Resource Gallery
External view of Brazil do Siemens plant facilities
c.1957
Frontal view of "Fabrica Sao Paulo" (1716939; Credit: The World Bank).
International Finance Corporation First Annual Report, 1956-1957
Document date: Sept. 27, 1957
The publication reports on IFC's activities since its establishment, including its investment in Siemens of Brazil on pages 7-8.
Interior view of Brazil do Siemens plant facilities
c.1957
The photograph shows production and testing of relays on the left and a partial view of an assembly line of telephone sets on the right (1716939; Credit: The World Bank).
Signing of International Finance Corporation investment for Brazil
June 20,1957
From left to right: Dr. G. Probst, Siemens do Brasil; President Garner; Helmut Spieker, Siemens of Germany; and G. Knopfer, Siemens do Brasil (1716939; Credit: The World Bank).
Origins of the International Finance Corporation (IFC)
Originally published: March 2003
The founders insist that IFC take on the full commercial risks of its investments, accept no government guarantees, and earn a profit from its operations.
Signing of International Finance Corporation investment for Brazil
June 20,1957
From left to right: Dr. G. Probst, Siemens do Brasil; President Garner; Helmut Spieker, Siemens of Germany; and G. Knopfer, Siemens do Brasil (1716939; Credit: The World Bank).
