WASHINGTON, D.C., November 11, 2015—Philippe
Le Houérou, a French national with more than 31 years of experience
in international finance, development, public-private partnerships, and
policy dialogue, was named today as the new Executive Vice President and
CEO of IFC, a member of the World Bank Group and the largest global development
institution focused on private sector development.
Le Houérou is currently Vice President for Policy and Partnerships at the
European Bank for Reconstruction and Development (EBRD). He previously
enjoyed a long and successful career at the World Bank Group, where his
last role was as Vice President for the South Asia Region until 2014.
“I’m very pleased that Philippe is coming back to the World Bank Group
to lead IFC,” said World Bank Group President Jim Yong Kim.
“Few professionals have his breadth of geographic experience and knowledge
of regional markets. Philippe will bring his outstanding intellectual,
managerial, client, and strategic skills to IFC. He and his team will identify
private sector investments that will help create jobs and grow economies
in the developing world that benefit everyone, especially the poor and
Le Houérou said: “I deeply believe in the mission of the World
Bank Group, and for me the most important factor in fighting poverty is
to promote economic growth, which will come largely from the private sector.
There’s no doubt in my mind that IFC’s work with the private sector is
critically important to create jobs, to fight climate change, and to tackle
the key global challenges of our times. It will be an honor and a privilege
to lead IFC in the coming years.”
After working in banking in the private sector, Le Houérou initially joined
the World Bank Group as a Young Professional, which included work in IFC
investment operations in East Asia. His last job in the Bank was regional
Vice President for South Asia, where he more than doubled lending, improved
disbursement, and developed a new regional strategy that focused on stronger
analytical work and policy dialogue. Before that, he was Vice President
for Europe and Central Asia, where he led the region's response to the
global financial crisis and ramped up analytical and advisory work, including
innovative reimbursable advisory services to provide cutting-edge knowledge
on key policy challenges for the region as well as in euro-zone countries.
Le Houérou has held other key leadership positions across the World Bank,
including Vice President of Concessional Finance and Global Partnerships;
Acting Vice President and Chief Information Officer; Director of Finance
and Resource Mobilization. In addition, he served as Resident Representative
IFC is the largest global development institution focused exclusively on
the private sector. Its activities help developing countries achieve sustainable
growth by financing investment, mobilizing and managing third-party capital,
and providing advisory services to businesses and governments. In FY15,
IFC’s investments totaled nearly $18 billion, leveraging the power of
the private sector to create jobs, spark innovation, and tackle the world’s
most pressing development challenges.
Born in Montpellier, France, Le Houérou grew up in North Africa and Italy
and went on to attend the Institut d'Etudes Politiques de Paris followed
by an MBA at Columbia University and a Ph.D in International Economics
from the Institut d'Etudes Politiques de Paris.
For more information, please visit: http://www.ifc.org/
About the World Bank Group
The World Bank Group plays a key role in the global effort to end extreme
poverty and boost shared prosperity. It consists of five institutions:
the World Bank, including the International Bank for Reconstruction and
Development (IBRD) and the International Development Association (IDA);
the International Finance Corporation (IFC); the Multilateral Investment
Guarantee Agency (MIGA); and the International Centre for Settlement of
Investment Disputes (ICSID). Working together in more than 100 countries,
these institutions provide financing, advice, and other solutions that
enable countries to address the most urgent challenges of development.
For more information, please visit www.worldbank.org,