Established in 1944, the World Bank Group (WBG) is one of the world\'s largest sources of funding and knowledge for development solutions. The WBG consists of five specialized institutions: The International Bank for Reconstruction and Development (IBRD), the International Development Association (IDA), the International Finance Corporation (IFC or the Corporation), the Multilateral Investment Guarantee Agency (MIGA), and the International Centre for the Settlement of Investment Disputes (ICSID). Within the World Bank Group, IFC is a legally and financially autonomous institution, with its own Articles of Agreement, share capital, management and staff. IFC has its own Board of Directors which is equal in composition to the Board of the IBRD.
IFC is the largest global development institution focused on the private sector in emerging markets. It is the world\'s largest multilateral source of loan and equity financing and advisory services for private sector in the developing world. Working with nearly 2,000 businesses worldwide, IFC draws on more than six decades of experience to create opportunities and solutions where they are needed most.
IFC has 185 member countries, which collectively determine its policies and approve investments through the Board of Directors. It has a diverse staff of more than 4,200, 43% of whom work in its Washington, DC headquarters; the other 57% are based in more than 100 locations throughout the world. With total assets of nearly US$100 billion, as of June 30, 2022, IFC had total net worth of US$33 billion, total committed portfolio of US$64 billion, and another US$15 billion in syndicated loans. In the fiscal year 2022, IFC provided US$33 billion in financing for private sector development, US$11 billion of which was mobilized from its partners and US$10 billion in short term finance. IFC has a Triple A rating from both Standard & Poor\'s and Moody\'s.
With support of its shareholders and as part of its recent capital increase package, IFC embarked on an ambitious new growth strategy - IFC 3.0 - the outcome of which will be doubling the volume of Corporation\'s business by 2030 and tripling the work it does in Low Middle Income (LMICs) and Low Income Countries (LICs) and Fragile and Conflict affected States (FCS). To do so, IFC will need to deploy its full range of financing, mobilization and advisory services as well as convening power and thought leadership and knowledge resources. This also calls for the need to conceive and generate opportunities for investing by proactively working \xe2\x80\x9cUpstream\xe2\x80\x9d to create, deepen, facilitate and expand markets and opportunities for the private sector and to design, catalyze and implement new investment products and projects. This strategy also relies on a closer WBG collaboration to ensure that public and private sector efforts are aligned towards encouraging and enabling private sector participation in economic activity. This supports the approach by which, when working with clients, the WBG will first seek private sector solutions to address development challenges-where such solutions are advisable and can be effective-and reserve public financing for projects only when other options are less optimal (the \xe2\x80\x9cCascade\xe2\x80\x9d approach).
As IFC moves forward to the next phase of implementation of its IFC 3.0 strategy, we are seeking to recruit a Regional Director for South Asia region. The position will be based in New Delhi, India and will report to the Regional Vice President for Asia and Pacific. S/he will lead a team located in our offices in the South Asia region.
The Regional Director will play a crucial role by leading the Regional Team, overseeing the implementation of IFC strategy, and managing key client and government relationships. S/he will be an integral part of the leadership team of the Asia and Pacific VPU.
Duties and Accountabilities
Business Responsibility
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