Lars H. Thunell, Executive Vice-President and Chief Executive Officer, International Finance Corporation (IFC) attends a session at the World Economic Forum (WEF) in Davos January 28, 2009. (file photo) By Lesley Wroughton
ISTANBUL, Oct 3 (Reuters) – The head of the International Finance Corp said on Saturday that the group plans to work with private equity funds, debt servicing companies and major banks to soak up toxic assets held by banks in emerging markets.

The IFC, the World Bank’s private-sector lender, said this week it would contribute up to $1.5 billion toward a proposed $5 billion global scheme that would invest in or mobilize investment to buy up distressed assets.