Algiers, Algeria, March
4, 2018—Sérgio Pimenta, Vice President for the Middle East and Africa
for IFC, a member of the World Bank Group, will be arriving in Algiers
today for a series of high-level talks with government and private sector
Pimenta is due to meet
Minister of Finance, Youcef Youbsi, Minister of Industry and Mohamed Loukal,
Governor of the Central Bank of Algeria to discuss initiatives and potential
reforms to boost local and foreign investment in the private sector and
spur growth and job creation in the country.
Pimenta will also host
a lunch roundtable with entrepreneurs, and leading business figures from
the Algerian Chamber of Commerce and Algerian Business Leaders Forum (FCE).
In addition, he will attend a workshop on renewable energy organized by
the FCE to highlight the importance of sustainable energy sources.
As Vice President for the Middle East
and Africa, Pimenta is in charge of all IFC’s advisory and investment
operations in a region with over 600 staff and a committed portfolio of
$20 billion, including mobilization.
IFC's work is designed
to help to address the region's most pressing development challenges. By
partnering with private sector companies, it aims to promote job creation,
increase access to finance, and support up-and-coming entrepreneurs.
IFC—a sister organization of the World
Bank and member of the World Bank Group—is the largest global development
institution focused on the private sector in emerging markets. We work
with more than 2,000 businesses worldwide, using our capital, expertise,
and influence to create markets and opportunities in the toughest areas
of the world. In FY17, we delivered a record $19.3 billion in long-term
financing for developing countries, leveraging the power of the private
sector to help end poverty and boost shared prosperity. For more information,