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International Finance Corporation (IFC) »

Sheetal Asrani-Dann, Philipp Dann
1 The International Finance Corporation (‘IFC’) is an international organization, established on 20 July 1956 by an international agreement and headquartered in Washington, DC. It is an affiliate of the International Bank for Reconstruction and Development (IBRD) , a member of the World Bank Group , and a United Nations Specialized Agency ( United Nations, Specialized Agencies ). It was established to complement the IBRD and its task to promote economic development by creating an entity that would encourage the growth of private enterprises in member countries,...

Moratorium »

Sheetal Asrani-Dann, Philipp Dann
1 A moratorium (from Latin: moratorius dilatory, morari to delay) can be defined as the temporary suspension of a claim, right, or obligation. It may be used to suspend a party’s claims and thus benefit other parties (eg the suspension to claim debts ), to suspend a party’s right and thus benefit a public good (eg the suspension of the right to hunt whales; Whaling ) or to suspend a party’s obligations and thus benefit the suspending party itself (eg the suspension of treaty obligations). 2 The concept, used in various areas of law, has not attracted much...