Monday, March 4, 2013

Jean Philippe Prosper named new IFC VP for sub-Saharan Africa (LAC)

The International Finance Corporation (IFC) on February 27, 2013 has named Jean Philippe Prosper, a Haitian national, as the institution’s Vice President for sub-Saharan Africa, Latin America and the Caribbean (LAC).

According to the IFC, Mr Prosper in his new position will “oversee IFC’s Investment and Advisory Services operations in 79 countries, where IFC has a combined investment portfolio of $17 billion and Advisory Services programmes worth $286 million across the two regions”.

He will be based in Johannesburg after a short transition, the World Bank Group member added.

“Our activities in sub-Saharan Africa and Latin America and the Caribbean are critical to IFC’s global business and we will build on our success in these regions to have a more significant impact on poverty elimination through private sector development,” Prosper said.

Until his appointment, Prosper was the IFC’s Director for Latin America and the Caribbean. From July 2008 to August 2012, he was the Director for Eastern and Southern Africa and a co-director of the Africa department. During his tenure with the Africa department, IFC’s investment grew from $140 million in fiscal year 2003 to $4 billion in fiscal year 2012.

Before joining IFC, Prosper was the Regional Coordinator for Mexico, the Andean Countries, Central America, and Panama for the Inter-American Investment Corporation (IIC) of the Inter-American Development Bank.

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