Paris, France, October 4, 2021—IFC, a member of the World Bank Group, in partnership with Paris Europlace and Université Paris-Dauphine, officially welcomed the inaugural class of the new IFC-Europlace-Dauphine Capital Markets Program at a ceremony with the scholars at Paris InfraWeek.
The Executive Masters Capital Markets Program is dedicated to francophone capital markets practitioners from around the world, and with a focus on green and sustainable finance. The first intake of scholars is drawn from 11 countries across Africa and from the Caribbean.
The ambition of the program is to build a critical mass of highly skilled professionals capable of influencing the creation and modernization of financial systems and the development of capital markets in French-speaking emerging economies.
John Gandolfo, IFC Vice-President and Treasurer, said:
"I am very excited about IFC partnering with Paris Europlace and Université Paris-Dauphine to offer a capital markets program to regulators from francophone countries, many of them in Africa.
I want to issue a warm welcome to our first Executive Masters Capital Markets Program Class of 2022. The scholars come from central banks, finance ministries, capital markets authorities and stock exchanges from 11 French-speaking countries. They are agents of change and can make a lasting impact in their countries."
"Deep, efficient, local capital markets are fundamental to development. They create access to long-term, local currency finance, protecting economies from capital-flow volatility and reducing dependency on foreign debt," Gandolfo continued.
"Deep, efficient, local capital markets help governments and the private sector crowd in the financial resources needed to invest in infrastructure, to create jobs, to spur economic growth - to meet the 2030 Sustainable Development agenda."
Augustin de Romanet, President of Paris EUROPLACE said:
"The launch of the Capital Markets training program, aimed at French-speaking emerging countries, demonstrates Paris EUROPLACE's desire to actively contribute to the development of capital markets as a vector of growth in countries that need to mobilize massive amounts of financing to sustain their growth and transform their economies in order to put them on a definitive path to economic development. The strength of the program is that it combines theoretical training, practical internships in contact with financial market players in the Paris financial market, and international market expertise thanks to IFC."
El Mouhoub Mouhoud, President of Université Paris-Dauphine said:
"The Executive Masters in Capital Markets is fully in line with Dauphine-PSL's strategy, both internationally and in terms of social responsibility. This degree aims to train experts for emerging French-speaking economies and thus contribute to more efficient and ethical financial markets. Dauphine is committed to mobilizing its high-level teaching and research staff in finance and economics, as well as its infrastructure, in order to offer a program that benefits from IFC's international expertise and the support of the Paris financial center through Paris EUROPLACE."
This original training program combines a rigorous academic curriculum with an operational internship and encourages immersion in the day-to-day life of the Paris financial markets and its key actors.
The growing complexity of financial markets requires an increasingly high level of expertise, and constantly updated knowledge of trade instruments and quantitative tools and their impact on corporate and state financing, the partners said.
Moreover, the particular context of African financial markets, whose development has not reached the level of maturity of the major international markets, accentuates the need to train regulators and practitioners.
IFC—a member of the World Bank Group—is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2021, IFC committed a record $31.5 billion to private companies and financial institutions in developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity as economies grapple with the impacts of the COVID-19 pandemic. For more information, visit www.ifc.org.
About Paris Europlace
Paris EUROPLACE is the Paris financial services-led body, in charge of developing and promoting Paris as an international financial center. Paris EUROPLACE is chaired by Augustin de ROMANET, Chairman and CEO, Aéroports de Paris (ADP). Paris EUROPLACE brings together all financial services industry stakeholders and is the voice for its 400+ members, corporate issuers, investors, banks and financial intermediaries, professional associations, attorneys and accountants, consulting firms, etc., as well as the financial market authorities. For more information, visit www.paris-europlace.com/en
About Université Paris Dauphine - PSL
Université Paris Dauphine - PSL, otherwise known as Dauphine, is a higher education establishment and a reference in the scientific fields of organization and decision sciences. "Grand établissement", member of the "Conference des Universités et des Grandes Ecoles", Dauphine has been developing, since its creation in 1968, an innovative model. At an international level, Dauphine developed several campuses abroad and is the founder of strategic international alliances such as SIGMA Alliance. Furthermore, the university is involved in worldwide academic partnerships. For more information, visit dauphine.psl.eu