WASHINGTON, D.C., October 27, 1998 --- The International Finance Corporation has named Mr. Deepak Khanna to head its first office in Seoul. The new office will oversee IFC's response to South Korea's needs during the current financial crisis by identifying and developing investment opportunities and working closely with existing and potential clients as well as the government.
After a decade-long absence from Korea, IFC has invested in 11 projects since the crisis erupted, totaling $338 million. Investments are in the petrochemicals, agribusiness, and financial sectors and there will likely be further investments soon in the manufacturing sector.
Mr. Khanna, an Indian national, joined the World Bank Group in 1987. He most recently worked in the Asia Department of IFC and earlier he evaluated investments in textiles, agribusiness, and non-fuel minerals for the IFC Operations Evaluation Group. He has had short-term assignments in the World Bank's Europe and Central Asia Region and IFC's Africa and Financial Management and Planning Departments. Prior to joining the World Bank Group, Mr. Khanna worked in the private sector in India.
Mr. Khanna holds a Master's degree in Business Administration from George Washington University, a Master's degree in Business Economics from the University of Delhi and a Bachelor's degree in Economics from St. Stephen's College in Delhi, India.
Mr. Khanna takes up duties in Seoul on November 1.
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.
