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Paris, October 7, 2014
—IFC, a member of the World Bank Group, appointed Stephanie Miller as Director of its Western Europe Department, which covers relations with 20 Western European countries, the European Union, and Israel. The appointment of Miller, who is based in Paris, became effective on October 1.
Prior to this appointment, Miller was World Bank Group Director for Climate Change, focused on supporting IFC's climate-smart investments and private sector engagement. Under her leadership, IFC’s share of climate-friendly business in developing countries reached a record $2.5 billion in fiscal year 2013 (ending June 2013)
and held steady the following year.
“I look forward to working with our partners in Western Europe, including our shareholders, business and financial sector clients, civil society, and donors,” said Miller. “Partnering with governments and the private sector in Western Europe will increase our ability to promote private sector development in emerging markets and contribute to the World Bank Group’s objectives of eradicating extreme poverty by 2030 and promoting shared prosperity in a sustainable way.”
IFC’s Western Europe Department plays a pivotal role in supporting business development and relationship management with companies, banks, and investors that are looking for finance and advice for their operations in emerging markets. The department also coordinates with governments and European International and Development Financial Institutions on a wide range of issues, such as financial market development, agribusiness, climate finance, energy efficiency, and environmental protection.
In fiscal year 2014 (ending June 2014), IFC committed $2.1 billion to projects with Western European companies and banks in emerging markets. Investments covered 26 countries and many sectors, including financial markets, infrastructure, manufacturing, agribusiness, and services. Thirty-three percent of IFC’s investments with Western European companies were in the world’s poorest countries. In addition, IFC mobilized $1.3 billion from Western European lenders to support its investments, and $168 million from donors to help our Advisory Services improve the investment climate and financial markets in developing countries and to promote public-private partnerships and climate friendly technologies.
Miller joined IFC in 1993 as a project manager based in Belarus and Ukraine. Over the course of her 21-year career she has worked as an investment officer focused on global infrastructure deals and as a senior manager in global manufacturing and services. Prior to joining IFC, she worked at the U.S. Department of Interior on environmental and conservation issues. Miller, a U.S. national, holds an M.A. from the School of Advanced International Studies of The Johns Hopkins University and a B.A. from the University of Wisconsin at Madison.
About IFC
IFC, a member of the World Bank Group, is the largest global development institution focused exclusively on the private sector. Working with private enterprises in about 100 countries, we use our capital, expertise, and influence to help eliminate extreme poverty and boost shared prosperity. In FY14, we provided more than $22 billion in financing to improve lives in developing countries and tackle the most urgent challenges of development. For more information, visit
www.ifc.org
.
About IFC in Western Europe
IFC's Western Europe Department covers relations with 21 countries including Austria, Belgium, Cyprus, Denmark, Finland, France, Germany, Greece, Iceland, Ireland, Israel, Italy, Luxembourg, Malta, the Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, and the United Kingdom, as well as the European Union. Western Europe is an important region for IFC with Western European countries holding about 32 percent of IFC’s capital. For additional information, visit
www.ifc.org/westerneurope
.
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