The International Finance Corporation, the private sector arm of the World Bank, is willing to accept more risk and greater volatility in returns as it steps up its push into the poorest countries, IFC chief executive Lars Thunell has told the Financial Times.

In an interview, Mr Thunell said “the risks are higher, volatility is higher and the cost of doing business is higher” in the poorest countries compared with middle income countries where the IFC has traditionally done most of its business.