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Annual Review 2025
In the four decades that the Facility for Investment Climate Advisory Services (FIAS) multi-donor trust fund has supported work in developing economies, one constant remains: the central role of the private sector in achieving global development goals. The FIAS 2025 Annual Review documents the achievements of IFC Advisory and Upstream projects through four years of the five-year FIAS strategy cycle. Over that time, more than 200 FIAS-supported projects have helped to generate nearly $1.4 billion in new private sector investment and financing, expand job and entrepreneurship opportunities for women, and foster resilient and green development. Founded by IFC in 1985 and now supported by 14 Development Partners, FIAS is one of IFC’s oldest and largest trust funds. Read More
Annual Review 2025: Executive Summary
In the four decades that the Facility for Investment Climate Advisory Services (FIAS) multi-donor trust fund has supported work in developing economies, one constant remains: the central role of the private sector in achieving global development goals. The FIAS 2025 Annual Review documents the achievements of IFC Advisory and Upstream projects through four years of the five-year FIAS strategy cycle. Over that time, more than 200 FIAS-supported projects have helped to generate nearly $1.4 billion in new private sector investment and financing, expand job and entrepreneurship opportunities for women, and foster resilient and green development. Founded by IFC in 1985 and now supported by 14 Development Partners, FIAS is one of IFC’s oldest and largest trust funds. Read More
Annual Review 2024
Fiscal year 2024 marks the third year of the five-year strategy cycle for the Facility for Investment Climate Advisory Services (FIAS) multi-donor trust fund. The portfolio of IFC Advisory Services and Upstream projects supported by FIAS has grown considerably, from 139 projects the previous year to 175 by the end of FY24. The breadth of work ranges across business sectors from small-holder farming to major high-tech manufacturing. The portfolio has produced impressive results, with $211 million in new investment generated in client countries and $186 million in financing facilitated. This FIAS 2024 Annual Review includes detailed reporting on FIAS support for IFC projects that involve collaboration and coordination with parallel initiatives managed by the International Bank for Reconstruction and Development (IBRD), in keeping with the One World Bank Group theme. Managed by IFC and supported by the World Bank Group and 14 Development Partners, FIAS is one of the oldest and largest trust funds in the World Bank Group.
Annual Review 2024: Executive Summary
Fiscal year 2024 marks the third year of the five-year strategy cycle for the Facility for Investment Climate Advisory Services (FIAS) multi-donor trust fund. The portfolio of IFC Advisory Services and Upstream projects supported by FIAS has grown considerably, from 139 projects the previous year to 175 by the end of FY24. The breadth of work ranges across business sectors from small-holder farming to major high-tech manufacturing. The portfolio has produced impressive results, with $211 million in new investment generated in client countries and $186 million in financing facilitated. The FIAS 2024 Annual Review – Executive Summary (companion to the FIAS 2024 Annual Review full report) includes reporting on FIAS support for IFC projects that involve collaboration and coordination with parallel initiatives managed by the International Bank for Reconstruction and Development (IBRD), in keeping with the One World Bank Group theme. Managed by IFC and supported by the World Bank Group and 14 Development Partners, FIAS is one of the oldest and largest trust funds in the World Bank Group.
Annual Review 2023
As the Facility for Investment Climate Advisory Services (FIAS) partnership reaches the midpoint of its five-year strategy cycle, IFC and World Bank projects supported by the FIAS multi-donor trust fund are delivering advisory and upstream services to help client countries sustainably grow their private sectors and generate inclusive job opportunities. In fiscal year 2023, FIAS is supporting a robust roster of projects helping client countries mitigate and adapt to the economic impacts of climate change. The FIAS 2023 Annual Review and the companion FIAS 2023 Annual Review–Executive Summary describe rapid growth in the project portfolio, strong results in investment generation, and work helping key business sectors modernize and participate in the digital economy. This year’s Annual Review includes detailed reporting on FIAS-supported work in gender and inclusion and climate change adaptation and mitigation. Managed by IFC, the FIAS trust fund is one of the oldest and largest in the World Bank Group.
Annual Review 2023: Executive Summary
As the Facility for Investment Climate Advisory Services (FIAS) partnership reaches the midpoint of its five-year strategy cycle, IFC and World Bank projects supported by the FIAS multi-donor trust fund are delivering advisory and upstream services to help client countries sustainably grow their private sectors and generate inclusive job opportunities. In fiscal year 2023, FIAS is supporting a robust roster of projects helping client countries mitigate and adapt to the economic impacts of climate change. The FIAS 2023 Annual Review and the companion FIAS 2023 Annual Review–Executive Summary describe rapid growth in the project portfolio, strong results in investment generation, and work helping key business sectors modernize and participate in the digital economy. This year’s Annual Review includes detailed reporting on FIAS-supported work in gender and inclusion and climate change adaptation and mitigation. Managed by IFC, the FIAS trust fund is one of the oldest and largest in the World Bank Group.
FY22-26 strategy
Founded in 1985, the Facility for Investment Climate Advisory Services (FIAS) supports World Bank Group projects that foster open, productive, and competitive markets, and unlock sustainable private investment in business sectors that contribute to growth and poverty reduction. “Upstream Advisory for Creating Investment Opportunities, Sustainable Growth, and Jobs”, the FIAS strategy for FY22–26, describes the role of FIAS as a key source of support enabling the IFC 3.0 Creating Markets Upstream Agenda and building private sector potential in IFC client countries. FIAS prioritizes work in International Development Association countries, Sub-Saharan Africa, and countries in fragile and conflict-affected situations. The FIAS program emphasizes crosscutting work advancing gender and inclusion, climate change mitigation and adaptation, and digitalization. Client-facing projects supported by FIAS are implemented by IFC Advisory Services country teams. FIAS is managed by IFC and supported by nearly 20 Development Partner countries and donor institutions and co-financed by the World Bank Group. FIAS is one of the Bank Group’s oldest and largest multi-donor trust funds.
Annual Review 2022
New economic challenges require new approaches, so it is timely that 2022 marked the beginning of a new five-year strategy cycle for the Facility for Investment Climate Advisory Services (FIAS) partnership. The economic impacts of COVID-19, Russia’s invasion of Ukraine, and the devastating earthquake in Türkiye and Syria have fallen especially hard on developing countries. In these circumstances, the advisory services delivered by IFC and supported by FIAS can play a key role in unlocking sustainable private investments in sectors that contribute to growth and poverty reduction. FIAS also supports projects that increase economic opportunities for women and help client countries address the challenges of climate change. The FIAS 2022 Annual Review and companion FIAS 2022 Annual Review–Executive Summary describe how FIAS support advances the IFC 3.0 Creating Markets agenda through a range of interventions, from economy-wide reform to improvements in promising business sectors.
Annual Review 2022: Executive Summary
New economic challenges require new approaches, so it is timely that 2022 marked the beginning of a new five-year strategy cycle for the Facility for Investment Climate Advisory Services (FIAS) partnership. The economic impacts of COVID-19, Russia’s invasion of Ukraine, and the devastating earthquake in Türkiye and Syria have fallen especially hard on developing countries. In these circumstances, the advisory services delivered by IFC and supported by FIAS can play a key role in unlocking sustainable private investments in sectors that contribute to growth and poverty reduction. FIAS also supports projects that increase economic opportunities for women and help client countries address the challenges of climate change. The FIAS 2022 Annual Review and companion FIAS 2022 Annual Review–Executive Summary describe how FIAS support advances the IFC 3.0 Creating Markets agenda through a range of interventions, from economy-wide reform to improvements in promising business sectors.
Annual Review 2021
The Facility for Investment Climate Advisory Services (FIAS), one of the World Bank Group's largest multi-donor trust funds, helps emerging markets and developing economies (EMDEs) foster open, productive, and competitive markets and unlock sustainable private investments in sectors that contribute to growth and poverty reduction. The FIAS 2021 Annual Review reports on the results of IFC Advisory Services and other World Bank Group projects and programs supported by FIAS in FY21. The report also summarizes the results of the five-year FY17–21 FIAS strategy cycle. During this challenging period, marked by the global economic impact of the COVID-19 pandemic, FIAS completed the five-year cycle near, at, or ahead of target in virtually all its key impact areas, including reforms to improve conditions for inclusive private sector growth, reduced regulatory burdens on private sectors, and new investment generated.