The International Finance Corporation (IFC), a member of the World Bank Group, yesterday appointed Mr Nicolas Marquier as its next country manager for Singapore. He is taking over from Ms Rana Karadsheh-Haddad, who now oversees the manufacturing, agribusiness and services industry.
Mr Marquier was previously the adviser to the chief executive officer at IFC, where he contributed to the development and implementation of IFC's strategy and the implementation of complex organisational changes.
He has more than 15 years of experience designing and leading a broad range of strategic and business transformation projects, and has worked in multiple industries across Europe, the Middle East and Asia.
IFC is the largest global development institution focused on the private sector in emerging markets. Since 2012, it has invested more than US$2 billion (S$2.8 billion) in financing from its own account and mobilisation with Singapore-based companies.
Mr Vivek Pathak, regional director for East Asia and the Pacific, said: "With this appointment, I am confident we can ramp up our sourcing and delivery of impactful investments from Singapore."
Mr Marquier yesterday said he is keen to help share the experience and expertise of Singapore's Government and private sector with emerging markets in the region.
Estimates of how much investment developing Asia needs, in order to achieve the United Nations' Sustainable Development Goals, vary from US$1.7 trillion to US$2.5 trillion annually, according to IFC.
Through Singapore, IFC can get greater access to locally based strategic partners wishing to broaden their regional presence by expanding into markets such as Vietnam, Myanmar and Bangladesh.
"As one of Asia's most developed and accessible financial hubs, Singapore is well positioned to help businesses and investors to reach developing countries across Asia and the Pacific," Mr Marquier said.
From Singapore, IFC advances cross-border investments and the mobilisation of capital from and through the city-state. It also promotes sustainable infrastructure and urban development, and supports the scaling up of disruptive technologies and new business models.