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IFC, Milken Institute and George Washington University Welcome New Capital Markets Class

In Washington, DC:
Emma-Kate Symons
+1 202 813 7561

WASHINGTON, August 20, 2019 – The IFC- Milken Institute Capital Markets Program this week welcomed its fourth intake of mid-career professionals from central banks, ministries of finance and regulatory agencies in 18 emerging economies across Asia, Africa and the Caribbean.

The Class of 2020 includes 23 policymakers from eleven new countries, with half of the scholars being women.  

A rigorous eight-month program has been designed by IFC, the Milken Institute and The George Washington University to help scholars develop their skills and knowledge to further strengthen their local capital markets.

“Deep, vibrant capital markets are essential for a thriving private sector that creates jobs, innovation, and sustainable economic growth,” said John Gandolfo, IFC Vice President and Treasurer.

“The IFC-Milken Institute Capital Markets program is one of the most noticeable upstream capacity building initiatives undertaken by IFC to train a critical mass of regulators on capital markets issues. Its growth is a response to strong client demand and will allow us to enlarge our alumni network of capital markets champions”.

The IFC-Milken Institute Capital Markets Program addresses this need for capacity building within key regulatory and policy-making institutions with a strong focus on sub-Saharan Africa and economies affected by extreme poverty, fragility and conflict. In 2020 the Program plans to expand to two annual intakes of scholars.

About the IFC-Milken Institute Capital Markets Program

The IFC-Milken Institute Capital Markets Program is aligned with the World Bank Group Joint Capital Markets (JCAP) initiatives. The scholars receive four months of graduate-level instruction at the George Washington School of Business (GWSB), supplemented by a speaker series with market practitioners, and applied workshops at the IFC and at the U.S. Securities and Exchange Commission. They are then placed for an internship with leading companies in the U.S. financial sector from hedge funds and asset managers to private equity firms and financial infrastructure providers. Program graduates earn a certificate from GWSB and join a global network of alumni and capital market leaders across more than 40 countries in Africa, Asia and the Caribbean. This growing alumni network provides the opportunity for networking, knowledge sharing and continuous learning through a partnership with the CFA Institute.

Applications for the next class, which will begin in January 2020, are currently being accepted. The deadline to apply is September 15, 2019.

More details are available online at

About IFC
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 fiscal year 2019, we delivered more than $19 billion in long-term financing for developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity. For more information, visit

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About the Milken Institute
For the past three decades, the Milken Institute has served as a catalyst for practical, scalable solutions to global challenges by connecting human, financial, and educational resources to those who need them. Guided by a conviction that the best ideas, under-resourced, cannot succeed, we conduct research and analysis and convene top experts, innovators, and influencers from different backgrounds and competing viewpoints. We leverage this expertise and insight to construct programs and policy initiatives. These activities are designed to help people build meaningful lives, in which they can experience health and well-being, pursue effective education and gainful employment, and access the resources required to create ever-expanding opportunities for themselves and their broader communities. For more information, visit

About the George Washington University School of Business
GW’s School of Business is an international leader in education and research, which prides itself on training future leaders to be global problem solvers and socially responsible managers. The school leverages its prime location—in the heart of Washington—by attracting visiting scholars and leaders in the business community to work, teach and engage with students. For more information, visit