Which one of the following statements is false ?
IFC encourages the growth and development of Public Sector Enterprises in member countries
The International Finance Corporation (IFC) was established on 20 July 1956 as a member of the World Bank Group, so the statements on its July 1956 founding and on its being a World Bank affiliate are true.
Its basic purpose, as set out in its Articles of Agreement, is to further economic development by encouraging the growth of productive private enterprise in member countries, especially developing ones. It invests in private companies without any government guarantee. So the statement on private enterprises is true.
The IFC does not aim at promoting public sector enterprises; financing governments and public projects is the role of the IBRD and IDA. The statement that the IFC encourages Public Sector Enterprises is therefore false.
Hence, the answer is IFC encourages the growth and development of Public Sector Enterprises in member countries.
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