IFC Appoints New Country Manager For Singapore
IFC, a member of the World Bank Group, has appointed an internal executive as its new country manager for Singapore.
Nicolas Marquier has been appointed IFC's country manager for Singapore, the institution said in a media statement on Monday. He has over 15 years of experience designing and leading a broad range of strategic and business transformation projects.
Previously, Marquier was the adviser to the CEO and has contributed to the development and implementation of IFC’s strategy. «Since 2012, IFC has invested more than $2 billion in financing from its own account and mobilization with Singapore based companies. With this appointment, I am confident we can ramp up our sourcing and delivery of impactful investments from Singapore,” said Vivek Pathak, Regional Director for East Asia & the Pacific.
Growing Demand For Policy Advice
Since beginning operations in Singapore, the institution has been responding to a growing regional demand for policy advice and investments across Asia and the Pacific. Estimates of how much investment developing Asia needs to achieve the United Nations’ Sustainable Development Goals vary from between $1.7 trillion to $2.5 trillion annually.
Singapore’s well-established financial hub allows IFC greater access to locally-based strategic partners wishing to broaden their regional presence, expanding into markets such as Vietnam, Myanmar, and Bangladesh, the institution said.
«I am keen to engage with the government and private sector in Singapore to help share their experience and expertise with emerging markets in the region. As one of Asia’s most developed and accessible financial hubs, Singapore is well-positioned to help businesses and investors to reach developing countries across Asia and the Pacific,» said Marquier.
Sustainable Infrastructure and Practices
From Singapore, IFC advances cross-border investments and the mobilization of capital from and through the city. It also promotes sustainable infrastructure and urban development and supports the scaling up of disruptive technologies and new business models. Additionally, IFC engages with regional agribusiness players to promote sustainable practices.
In addition, the office now also serves as the base for all its Regional Industry Directors. Rosy Khanna heads the Financial Institutions Group, Isabel Chatterton leads the Infrastructure and Natural Resources industry, while Rana Karadsheh-Haddad oversees the Manufacturing, Agribusiness, and Services industry.
IFC is a sister organization of the World Bank and member of the World Bank Group. In the fiscal year 2018, it delivered more than $23 billion in long-term financing for developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity.
