DJIBOUTI, February 27, 2022 - Sérgio Pimenta, IFC's Regional Vice President for Africa, will make his first visit to Djibouti from February 28 to March 2 to highlight IFC's commitment to fast-tracking the country's inclusive economic recovery from the impact of COVID-19 and support for job creation through increased private sector investments.
Accompanied by senior members of IFC's leadership team for Africa, Mr. Pimenta will hold talks with senior government officials, key private sector leaders and donor partners.
Mr. Pimenta will discuss ways in which Djibouti's private sector, with IFC support, can help expand access to finance for micro, small and medium-sized enterprises (MSMEs) and access to affordable housing for the Djiboutian population. Strengthening manufacturing and infrastructure (logistics, energy and ICT) will also be a top priority on his agenda. Djibouti's seaport already makes the country an important regional logistics hub, and more economic gains are expected with infrastructure upgrades.
IFC's strategy aligns with the government's Vision 2035 development plan that seeks to boost growth and improve quality of life for Djiboutians through increased private sector investments. IFC's investment and advisory support in Djibouti currently stands at $13.7 million supporting access to trade financing, hotel development and affordable housing.
WHO: Sérgio Pimenta, Regional Vice President for Africa, IFC - @SPimentaIFC
WHEN: Monday, February 28, 2022 – Wednesday, March 2, 2022
WHERE: Djibouti City
For media requests, please contact:
In Nairobi: Kristina Nwazota | knwazota@ifc.org | +254 793 263 740 | +1 202 422 2408
About IFC
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.
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Sérgio Pimenta is IFC's Regional Vice President for Africa. In this capacity, he is in charge of all advisory and investment operations in a region with a committed portfolio of $13.3 billion and approximately 700 staff working to expand the private sector's role in addressing urgent development challenges in the financial, manufacturing, agribusiness and services, and infrastructure industries.
Previously, Mr. Pimenta was IFC's Vice President for the Middle East and Africa. Mr. Pimenta also served as Director and Global Head of Industry—Manufacturing, Agribusiness, and Services at IFC, managing all operations in these sectors worldwide. Mr. Pimenta also served for three years as IFC's Regional Director responsible for East Asia and the Pacific, based in Hong Kong.
Earlier in his career at IFC, Mr. Pimenta held senior managerial positions in the manufacturing, agribusiness, and services sectors in the Asia Pacific region, the Middle East and North Africa, and Washington, DC.
Prior to joining the World Bank Group through its Young Professionals Program in 1996, Mr. Pimenta worked for the Treasury Department of the French Ministry of Finance, as well as for Banque Nationale de Paris (BNP).
A Portuguese and French national, Mr. Pimenta holds an engineering degree from the École Polytechnique, Paris, and a post-graduate degree from the École Nationale des Ponts et Chaussées, Paris.
