Arab Today, arab today world bank taps french economist for privatesector arm
Last Updated : GMT 04:02:51
Arab Today, arab today
Arab Today, arab today

World Bank taps French economist for private-sector arm

Arab Today, arab today

Arab Today, arab today World Bank taps French economist for private-sector arm

Philippe Le Houerou
Washington - AFP

The World Bank named Philippe Le Houerou, a French economist and former employee, to head its International Finance Corp. private-sector lending arm on Wednesday.

Currently vice president for policy and partnerships at the European Bank for Reconstruction and Development, Le Houerou will be the executive vice president and chief executive of the IFC.

Last Friday World Bank President Jim Yong Kim announced unexpectedly that current IFC chief Jin-Yong Cai, a Chinese banker, was stepping down at the end of the year.

The IFC lends to companies to support private-sector projects in developing countries, including factories, farms, infrastructure and clean energy.

"There's no doubt in my mind that IFC's work with the private sector is critically important to create jobs, to fight climate change, and to tackle the key global challenges of our times," Le Houerou said in a statement.

Le Houerou is returning to the World Bank, where his last role in a "long and successful career" there was as vice president for the South Asia Region until 2014, the Bank said.

"Few professionals have his breadth of geographic experience and knowledge of regional markets," said Kim in the statement.

It did not indicate when Le Houerou would take the helm of the IFC.

In recent years, the IFC has been accused by activist groups of supporting development projects that have violated the rights of local populations.

While welcoming Le Houerou's appointment, Oxfam International noted that though the IFC's social and environmental standards had been strengthened recently, "they're still being ignored with troubling frequency."

"Le Houerou's success will ultimately be judged on whether or not he drives change forward and takes decisive actions needed to prevent the IFC's past failures from happening again," said Nicolas Mombrial, head of Oxfam's Washington office, in a statement.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today world bank taps french economist for privatesector arm Arab Today, arab today world bank taps french economist for privatesector arm

 



Arab Today, arab today
Arab Today, arab today Nasima Gamei revives Algerian heritage in jewelries

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives Algerian heritage in jewelries
Arab Today, arab today Saudis await visitors but will they come?

GMT 11:54 2017 Thursday ,23 February

Saudis await visitors but will they come?
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today Blind sheikh buried in Egypt

GMT 06:32 2017 Thursday ,23 February

Blind sheikh buried in Egypt
Arab Today, arab today Media host Mona Iraqi stresses her show's success

GMT 15:32 2017 Wednesday ,22 February

Media host Mona Iraqi stresses her show's success
View News in Arabic - Business: اقتصاد دولي
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today To hold social dialogue over secondary school

GMT 07:43 2017 Wednesday ,22 February

To hold social dialogue over secondary school
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Salma Rashid happy for 'A Whisper of Love'

GMT 05:19 2017 Tuesday ,21 February

Salma Rashid happy for 'A Whisper of Love'
Arab Today, arab today Milan laughs while Rome cries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 06:41 2017 Monday ,20 February

Janat pleased for issuing 'Good Morning'

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 07:51 2017 Wednesday ,22 February

Mom's immune system accepts babies

GMT 17:46 2017 Saturday ,18 February

Tourist guide reveals methods of tourist attractions

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:22 2017 Monday ,20 February

Kanye West puts hijab-wearing model
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday