Dakar, July 1, 2015—IFC, a member of
the World Bank Group has appointed Vera Songwe IFC Regional Director for
West and Central Africa, based in Dakar, Senegal. Until June 30, 2015,
Ms. Songwe, a Cameroonian national, was the World Bank Country Director
for Senegal, Cape Verde, Gambia, Guinea Bissau and Mauritania.
IFC offers an array of products and services
which enable the corporation to play a catalytic role in drawing the private
sector into developing sectors as varied as infrastructure, small and medium
enterprises, and agribusiness, which are key for sustainable and inclusive
development. In FY14, IFC provided more than $4.6 billion in support to
the private sector across sub-Saharan Africa.
“Over the past few years, I have observed
the significant impact of the private sector in advancing the aspirations
of many countries,” said Ms. Songwe. “I am honored to have this opportunity
to lead IFC’s team in providing the investments and advice that will help
to further grow vibrant private enterprise, promote economic development
and create jobs in West and Central Africa.”
Ms. Songwe joined the World Bank Group in
1998 as a Young Professional. She worked in the Middle East and North Africa
region covering Morocco and Tunisia in the Poverty Reduction and Economic
Management (PREM) unit. She later joined the East Asia and Pacific region,
PREM unit where she played several roles including Regional PRSP Coordinator,
and Country Sector Coordinator and Senior Economist for the Philippines.
She has also worked Cambodia and on Mongolia as Country Economist managing
different World Bank programs and the economic and growth policy dialogue.
Prior to joining the Bank, Ms. Songwe was
a Visiting Scholar at the University of Southern California and at the
Federal Reserve Bank of Minneapolis, USA. She has published several articles
on governance, fiscal policy, agriculture and commodity price volatility
and trade and new financial infrastructure.
Ms. Songwe holds a PhD. in Mathematical Economics
from the Center for Operations Research & Econometrics from the Catholic
University of Louvain-la-Neuve in Belgium. She holds a BA in Economics
and a BA in Political Science from the University of Michigan, Ann Arbor.
Ms. Songwe’s appointment is effective July
1, 2015. She takes over the role of IFC Regional Director from Ms. Saran
Kebet-Koulibaly, who joins IFC’s Management Team in Washington D.C. as
Vice President for Corporate Sustainability and Risk.
IFC, a member of the World Bank Group, is
the largest global development institution focused exclusively on the private
sector. Working with private enterprises in about 100 countries, we use
our capital, expertise, and influence to help eliminate extreme poverty
and boost shared prosperity. In FY14, we provided more than $22 billion
in financing to improve lives in developing countries and tackle the most
urgent challenges of development. For more information, visit www.ifc.org