Washington, D.C., March 14, 2003
—Mr. Peter Woicke, Executive Vice President of the International Finance Corporation (IFC) and Managing Director of the World Bank Group, will visit Tokyo from March 17 to 22, 2003. Mr. Woicke will lead the World Bank Group delegation to the Third World Water Forum being held in Kyoto, Osaka and Shiga from March 16 to 23. He will represent the WBG at the Ministerial Conference and other program sessions including “Financing Water Infrastructure.”
Mr. Woicke will be accompanied by Mr. Motoharu Fujikura, IFC Director for Japan; Mr. Javed Hamid, IFC Director for East Asia and the Pacific; and Mr. Declan Duff, IFC Director for Infrastructure. The trip will include stops in Tokyo and Kyoto. On March 17 and 18 in Tokyo, Messrs. Woicke and Fujikura will consult with senior government and industry leaders to discuss investment prospects and private sector development issues. Mr. Woicke will then travel to Kyoto to participate in events related to the World Water Forum.
Under Mr. Woicke's leadership, IFC has moved senior staff to regional hubs to be closer to clients and to ensure an increased client focus. As managing director of the World Bank, Mr. Woicke has been able to lead a groupwide private sector development strategy, leveraging resources and knowledge from both the World Bank and IFC and ensuring that the World Bank Group provides advice and financing both to the public and private sector in a consistent and efficient manner. Mr. Woicke has made sustainability a strategic priority at IFC because he believes it is critical to the long-term profitability of businesses. He has focused on small and medium enterprises because of their crucial developmental impact in emerging markets.
Mr. Woicke has held his present post with IFC since 1999. Over the previous 30 years, he held numerous positions with J.P. Morgan. These included heading the banking division of an affiliate in Beirut and leading the global oil and gas group. His career in international finance includes experience in developing countries in Latin America and the Middle East. and, most recently, as chairman of J.P. Morgan Securities Asia. He was also a member of J.P. Morgan's executive management group.
The mission of IFC 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, helps clients improve social and environmental sustainability, and provides technical assistance and advice to governments and businesses. Since its founding in 1956 through FY02, 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 as of FY02 was $15.1 billion for its own account and $6.5 billion held for participants in loan syndications.
