Washington, D.C., April 27—The International Finance Corporation has announced the appointment of Mr. Raymond Chiu as Chief of IFC’s Regional Mission based in Islamabad, Pakistan.
Mr. Chiu joined the World Bank in 1979. In 1980, he joined IFC’s Asia Department where he worked on investment activities in Korea, Malaysia, Philippines and Thailand. In 1990, he transferred to the South Pacific Project Facility in Sydney, which assists small and medium enterprises in the Pacific islands. In 1993, Mr. Chiu joined IFC’s Central Asia, Middle East, and North Africa Department where he was involved with investment activities in Pakistan and Uzbekistan.
Mr. Chiu, a Singapore national, holds a Bachelor's degree in mechanical engineering from the University of Singapore and an MBA from the University of California, Los Angeles.
IFC, part of the World Bank group, fosters economic growth in the developing world by financing private sector investments, mobilizing capital in the international financial markets, and providing technical assistance and advice to governments and businesses. Since 1958, IFC has approved US$1.9 billion in financing for 114 projects in Pakistan.
