Mary Porter Peschka, Director for East Africa at the International Finance Corporation (IFC)—the private sector arm of the World Bank—stated that lenders, governments, and regulators in developing countries need to deepen African financial markets to ensure that every $1 invested attracts $10 in commercial capital. She noted that while this "gold standard" is exceptionally robust and the IFC has achieved or exceeded the target in certain markets and sectors, the IFC cannot yet claim that its entire African investment portfolio has fully realized a 1-to-10 leverage effect.