Washington, DC, February 27,
2013—IFC, a member of the World Bank Group, today announced the appointment
of Jean Philippe Prosper to Vice President of Sub-Saharan Africa and Latin
America and the Caribbean. He will be based in Johannesburg after a short
In his new position, Prosper will oversee IFC’s Investment and Advisory
Services operations in 79 countries, where IFC has a combined investment
portfolio of $17 billion and Advisory Services programs worth $286 million
across the two regions.
Prosper said, “Our activities in Sub-Saharan Africa and Latin America
and the Caribbean are critical to IFC’s global business and we will build
on our success in these regions to have a more significant impact on poverty
elimination through private sector development.”
Prosper said: “In Africa IFC is a major regional investor. We will further
grow our Investment and Advisory Services, especially in fragile and conflict
affected states and through regional and national projects that have potential
to positively transform development in Africa.” During its 2012 fiscal
year, IFC’s investments grew 44 percent to $4 billion and saw major inroads
in its priority sectors of infrastructure and agribusiness. Nearly all
of IFC’s 123 Advisory Services programs worth $204 million in Sub-Saharan
Africa were carried out in the region’s poorest countries and more than
a quarter of it in fragile and conflict-affected states. IFC executes its
business in Sub-Saharan Africa from 21 offices.
“Our focus in Latin America and the Caribbean is to promote inclusive
economic growth, regional integration, innovation to improve competitiveness
and climate change mitigation," Prosper said. The LAC region accounts
for the largest share of IFC global commitments—24 percent in fiscal year
2012, with $5 billion in financing for 134 new private sector projects.
Through its Advisory Services IFC executed 79 projects worth $82 million
at the end of the last fiscal year. IFC carries out its business in LAC
from 16 offices.
Until his appointment, Prosper was IFC’s Director for Latin America and
the Caribbean. From July 2008 to August 2012, he was the Director for Eastern
and Southern Africa and a co-director of the Africa department. During
his tenure with the Africa department, IFC’s investment grew from $140
million in fiscal year 2003 to $4 billion in fiscal year 2012.
Prosper has been recognized for his leadership skills at IFC. He received
the Diversity and Inclusion Leadership Award in 2010 and the Good Manager
Award in 2011, two of the most prestigious awards of the World Bank Group.
Before joining IFC, Prosper was the Regional Coordinator for Mexico, the
Andean Countries, Central America, and Panama for the Inter-American Investment
Corporation (IIC) of the Inter-American Development Bank. Between 1986
and 1990, he worked at SOFIHDES, a private development finance company
in Haiti, where he became Managing Director. During this period, Prosper
was also a professor of mathematics, statistics, and managerial and corporate
finance at the State University of Haiti. In the early 1980's, he worked
as Advisor to the Minister of Haiti on Financial, Economic, and Industrial
Prosper holds a degree in Mathematics and Civil Engineering and an MBA.
A Haitian national, he is fluent in Creole, English, French, Portuguese,
and Spanish and has a working knowledge of Kiswahili.
IFC, a member of the World Bank Group, is the largest global development
institution focused exclusively on the private sector. We help developing
countries achieve sustainable growth by financing investment, mobilizing
capital in international financial markets, and providing advisory services
to businesses and governments. In FY12, our investments reached an all-time
high of more than $20 billion, leveraging the power of the private sector
to create jobs, spark innovation, and tackle the world’s most pressing
development challenges. For more information, visit www.ifc.org.