NEW DELHI, INDIA, September 3, 1998 --- Mr. Sanjiva Senanayake has been appointed Country Coordinator for Sri Lanka, which is the latest addition to the IFC network of offices in the South Asian region and a country where IFC has a growing investment. He has already taken up duties, based in Colombo.
The development of a regional operational presence is an important part of IFC's strategy to decentralize decision-making, get closer to the marketplace and establish closer contacts with its clients, said Mr. Rashad Kaldany, Director of the South & South-East Asia Division, who announced the appointment. He said IFC's focus in Sri Lanka will be on priority areas such as developing capital markets and financing middle-tier companies and infrastructure projects.
Mr. Senanayake, a Sri Lankan national, has more than 16 years of banking experience in Sri Lanka and elsewhere. He joined Citibank Colombo in 1979 and moved to Citibank Brunei as Treasurer and Investment Banking Head in 1985. In 1988 he transferred to Citibank's branch in Sydney and worked as a Senior Market Risk Manager until 1992 when he returned to Sri Lanka to join the Commercial Bank of Ceylon in Colombo as Consultant for Treasury and Product Development. He then moved to the National Development Bank of Sri Lanka in 1984 as Assistant General Manager in Treasury and in Merchant Banking. He was an independent consultant in banking and finance before joining IFC in June.
Mr. Senanayake holds a first-class BSc degree in Electrical and Electronic Engineering and an MSc in Communication Engineering, both from the University of London.
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.
