Washington, D.C., July 26, 1999,-
The International Finance Corporation has opened a new Singapore office to arrange syndications, in response to improving economic and market conditions in Asia.
Mr. Franòois Grossas, Principal Syndications Officer at IFC will be based in Singapore to develop relationships with financial institutions across East Asia and handle the syndication of new IFC B Loans to borrowers in Asia. He will also work with banks which are current participants in IFC B Loans in completing the restructuring process of problem loans in the region.
Mr. Grossas has been with IFC for 11 years including eight years in the Syndications group. Prior to joining IFC, he was a Vice President at the Chase Manhattan Bank in New York. He is a graduate of the Institut d'Etudes Politiques of Paris, and has an MBA from the University of Michigan.
Ms. Suellen Lazarus, IFC Senior Manager for Syndications and International Securities said that a presence in Singapore should increase IFC's profile among the Asian-based financial institutions in a key regional banking and financial center, and help maintain the quality of service to IFC's existing participants. She anticipated the launching of a number of important Asian syndications from Singapore in the coming months.
The mission of IFC, part of the World Bank Group, is to promote private sector investment in developing countries which will reduce poverty and improve people's lives. It fosters economic growth by financing private sector investments, mobilizing capital in the international financial markets, and providing technical assistance and advice to governments and businesses.
Mr. Grossas will share premises with the World Bank, which has established an office in Singapore, in space provided by the Government of Singapore.
He can be reached from August 3, 1999 at:
International Finance Corporation
10 Shenton Way, #15-08
MAS Building
Singapore 079117
Tel: (65) 324-4825
Fax: (65) 324-4615
E-mail: fgrossas@ifc.org
