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IFC ANNOUNCES NEW REGIONAL REPRESENTATIVE IN EGYPT


Jannette Esguerra
Phone: (202) 458-5204  
Fax: (202) 974-4384
E-mail: jesguerra@ifc.org


WASHINGTON, D.C., March 30, 1999 --- Mr. Sami Haddad has been named the International Finance Corporation's Regional Representative for the Middle East, based in Cairo.
Mr. Haddad joined the World Bank Group in 1981. He began work with IFC in the Capital Markets Department and then transferred to Abidjan and Casablanca as Regional Representative for West and North Africa. He returned to Washington in 1990 as Division Manager in the Middle East and North Africa Department. In 1997, he moved to the South and Southeast Asia Department, and was promoted last year to Associate Director in charge of Portfolio Management and Credit Review, the position he currently holds.
Before joining the World Bank Group, Mr. Haddad held positions as assistant to the Governor of the Central Bank of Lebanon and as Credit Officer with Société Générale Libano-Europeene de Banque. Mr. Haddad, a Lebanese national, holds a Master's degree in Economics from the American University in Beirut and followed post-graduate studies in Economics at the University of Wisconsin-Madison.
Mr. Haddad takes up his duties in Cairo on June 1, 1999.
Since 1976, IFC has approved $696.9 million in financing for 58 projects in Egypt. IFC, part of the World Bank group, fosters economic growth in the developing world by financing private sector investments, mobilizing capital in the international financial markets, and providing technical assistance and advice to governments and businesses.