Paris, October 7, 2014—IFC, a member
of the World Bank Group, appointed Stephanie Miller as Director of its
Western Europe Department, which covers relations with 20 Western European
countries, the European Union, and Israel. The appointment of Miller, who
is based in Paris, became effective on October 1.
Prior to this appointment, Miller was World Bank Group Director for Climate
Change, focused on supporting IFC's climate-smart investments and private
sector engagement. Under her leadership, IFC’s share of climate-friendly
business in developing countries reached a record $2.5 billion in fiscal
year 2013 (ending June 2013) and
held steady the following year.
“I look forward to working with our partners in Western Europe, including
our shareholders, business and financial sector clients, civil society,
and donors,” said Miller. “Partnering with governments and the private
sector in Western Europe will increase our ability to promote private sector
development in emerging markets and contribute to the World Bank Group’s
objectives of eradicating extreme poverty by 2030 and promoting shared
prosperity in a sustainable way.”
IFC’s Western Europe Department plays a pivotal role in supporting business
development and relationship management with companies, banks, and investors
that are looking for finance and advice for their operations in emerging
markets. The department also coordinates with governments and European
International and Development Financial Institutions on a wide range of
issues, such as financial market development, agribusiness, climate finance,
energy efficiency, and environmental protection.
In fiscal year 2014 (ending June 2014), IFC committed $2.1 billion to projects
with Western European companies and banks in emerging markets. Investments
covered 26 countries and many sectors, including financial markets, infrastructure,
manufacturing, agribusiness, and services. Thirty-three percent of IFC’s
investments with Western European companies were in the world’s poorest
countries. In addition, IFC mobilized $1.3 billion from Western European
lenders to support its investments, and $168 million from donors to help
our Advisory Services improve the investment climate and financial markets
in developing countries and to promote public-private partnerships and
climate friendly technologies.
Miller joined IFC in 1993 as a project manager based in Belarus and Ukraine.
Over the course of her 21-year career she has worked as an investment officer
focused on global infrastructure deals and as a senior manager in global
manufacturing and services. Prior to joining IFC, she worked at the U.S.
Department of Interior on environmental and conservation issues. Miller,
a U.S. national, holds an M.A. from the School of Advanced International
Studies of The Johns Hopkins University and a B.A. from the University
of Wisconsin at Madison.
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.
About IFC in Western Europe
IFC's Western Europe Department covers relations with 21 countries including
Austria, Belgium, Cyprus, Denmark, Finland, France, Germany, Greece, Iceland,
Ireland, Israel, Italy, Luxembourg, Malta, the Netherlands, Norway, Portugal,
Spain, Sweden, Switzerland, and the United Kingdom, as well as the European
Union. Western Europe is an important region for IFC with Western European
countries holding about 32 percent of IFC’s capital. For additional information,