Tokyo, July 20, 2005
—The International Finance Corporation , the private sector arm of the World Bank Group, announced the appointment of Hiroshi Arichi as its new director in Japan, based in Tokyo. Mr. Arichi joins IFC from Japan’s Ministry of Finance.
The role of IFC’s Tokyo office is to promote IFC's activities in Japan, to enhance Japanese private investment in developing countries, and to encourage Japanese companies and financial institutions to work with IFC as partners.
Mr. Arichi, who has worked with the Japanese Government in various capacities for nearly 30 years, joined the Ministry of Finance in 1975. He worked at the Export-Import Bank of Japan (1982-84) and Ministry of Fiance’s International Finance Bureau (1984-86). From 1986 to 1989, he was posted in Jakarta as first secretary to the Japanese Embassy. He also served as the financial counselor to the Japanese Embassy in Paris (1993-96). From 1996 to 1999 he was director for the Customs and Tariff Bureau within the Ministry of Finance. Since 2002 he has served in various regional taxation bureaus.
“I am looking forward to helping more Japanese corporations and banks understand the opportunities to work with IFC in Asia and other parts of the world as sponsors and financial partners,” said Mr. Arichi “I also want to contribute to enhancing the delivery of IFC’s technical assistance funded by the Japanese government to promote private sector investment in developing countries.”
Mr. Arichi will replace Motoharu Fujikura, who has worked for five years as IFC’s special representative and director in Tokyo. “We are very grateful for the contribution made by Mr. Fujikura to IFC’s business development and representation in Japan. IFC is fortunate to be joined by an able successor in Mr. Arichi, who can ensure continued strong links with the Japanese business community and government," said. IFC Acting Executive Vice President Assaad Jabre, “Japanese partners are vital to IFC’s effort to provide investment and technical assistance to the highest standards in developing countries.”
The mission of IFC (
www.ifc.org
) 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. From its founding in 1956 through FY04, IFC has committed more than $44 billion of its own funds and arranged $23 billion in syndications for 3,143 companies in 140 developing countries. IFC’s worldwide committed portfolio as of FY04 was $17.9 billion for its own account and $5.5 billion held for participants in loan syndications.
