Dhaka, Bangladesh—February 10, 2003
—Mr. Assaad Jabre, Vice President, Operations of the International Finance Corporation (IFC)—the private sector development arm of the World Bank Group—will visit Bangladesh from February 9-11, 2003.
Mr. Jabre will be accompanied by Mr. Dimitris Tsitsiragos, IFC Director for South Asia. Messrs. Jabre and Tsitsiragos will look at IFC’s investment and advisory work and consult with senior government and industry leaders as well as IFC clients. The visit underlines the importance and continuing commitment that IFC attaches to its work in Bangladesh.
Since 1996, IFC has committed financing to projects in Bangladesh amounting to US$200 million, including $140 milliion for IFC’s own account and $60 million for the account of participating banks. IFC’s investments are spread over several sectors, including power, telecom, cement, and the financial sector (leasing, development finance, and housing finance). Last year, IFC along with other donors, set up a technical assistance facility, the South Asia Enterprise Development Facility (SEDF)), based in Dhaka. SEDF, which is managed by IFC, supports small and medium enterprises (SMEs). IFC is also looking to do new investments in Bangladesh, especially in the following sectors: private infrastructure, capital markets and banking, SMEs, and general manufacturing
Mr. Jabre graduated from the Institut d’Etudes Politiques de Paris with a degree in economics and finance and received a degree in international law from the University of Paris. He worked for Paribas in Paris for four years before entering the Wharton School, University of Pennsylvania, where he received an MBA in 1980. He joined the World Bank Group in 1980.
IFC’s mission is to promote sustainable private sector investment in developing countries, helping to reduce poverty and improve people's lives. IFC finances private sector investments in the developing world, mobilizes capital in the international financial markets, and provides technical assistance and advice to governments and businesses. Since its founding in 1956, IFC has committed more than $34 billion of its own funds and arranged $21 billion in syndications for 2,825 companies in 140 developing countries. IFC’s worldwide committed portfolio at the end of FY02 was $15.1 billion for its
own account and $6.5 billion held for participants in loan syndications.
