WASHINGTON, D.C., July 29—The International Finance Corporation (IFC) announces the appointment of Mr. Rashad-Rudolf Kaldany as Director of Asia II Department, based in the Corporation's regional mission in New Delhi, India.
IFC's newly-created Asia II Department covers Bangladesh, Bhutan, India, Indonesia, Malaysia, Maldives, Myanmar, Nepal and Sri Lanka.
Mr. Kaldany's appointment became effective on July 1. He replaces Ms. Denise Leonard who was IFC's Regional Representative in New Delhi covering the South Asia region. In addition to South Asia, Mr. Kaldany will also direct IFC activities in some Southeast Asian countries.
Mr. Jemal-ud-din Kassum, IFC Vice President said, "I am happy to announce that the regional mission in New Delhi has been upgraded from manager to director-level representation. The development of a regional operational presence is an important strategic focus for the Corporation and the decision to upgrade the regional mission in New Delhi reflects IFC's strategy to decentralize decision-making and establish closer contacts with its clients. The decision is also in line with demonstrated market needs. The New Delhi regional mission will focus on priority areas for IFC, including developing capital markets and financing middle-tier companies and infrastructure projects."
Mr. Kaldany, a dual United States and Syrian national, joined the Corporation in August 1988 as an investment officer in the Department of Investments, Africa I. In July 1990, he transferred to the Department of Investments, Middle East and North Africa, where he served until his promotion to senior investment officer. Just prior to the Corporation's reorganization of July 1992, he became special assistant to the Executive Vice President (EVP), first to Sir William Ryrie and then to Mr. Jannik Lindbaek, the present EVP, who joined the Corporation in January, 1994. In July 1994, Mr. Kaldany was promoted to manager, Capital Markets Division in the Asia Department, where he served until his appointment in January 1997 as a senior manager in the office of the Vice President, Investment Operations.
Mr. Kaldany holds a Doctoral degree in Biochemistry from Columbia University and an MBA from Stanford University.
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.
