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WASHINGTON, D.C., Jan. 31 -- The International Finance Corporation (IFC) announces two new appointments in its Infrastructure Department. They are Mr. Assaad Jabre as Director, Infrastructure, and Mr. Rauf Diwan as Manager, Power Division in the Infrastructure Department. Mr. Jabre, a Lebanese national, joined the IFC in 1980. He worked in the Africa Department and the Europe and Middle East Department before being appointed Special Assistant to the Executive Vice President in 1989. In 1992, he was promoted to Manager, Telecommunications Division. Mr. Jabre replaces Mr. Everett "Sam" Santos, who left IFC last year to take up an appointment in the private sector. Mr. Diwan, a Pakistani national, joined IFC's Asia Department in 1977. In 1988, he left IFC to join the private sector in Pakistan. Mr. Diwan returned to IFC in June 1992 to join the newly created Power Division of the Infrastructure Department. In April 1994, he was promoted to Manager, East Asia, in the Asia Department. Mr. Diwan replaces Mr. Vijay Chaudhry, who recently left IFC to take up a position in the private sector. In 1995, IFC approved new infrastructure investments of US$733.9 million for its own account, in addition to US$1,049 million in loan syndications, representing 25.5 percent of total approvals. To date, IFC's infrastructure activities have been concentrated in Latin America and Asia, largely because of early opportunities created by governments in these regions, but the range is widening to cover Central Asia, the Middle East, Europe, and Africa. Although IFC's activities have developed most rapidly in power and telecommunications, its activities in other sectors in transportation and utilities, including roads, ports and water, are increasing. IFC, a member of the World Bank Group, is the largest multilateral source of equity and loan financing for private sector projects in developing countries.
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