International Finance Corporation, a sister organization of the World Bank and member of the World Bank Group, said on Nov. 4 it named Ryu Ji-yeon, formerly a high-level official of IFC’s fragile and conflict-affected situations program in Africa, as its new head of Korea.
Ryu will immediately be responsible for encouraging Korean investments in emerging markets while managing IFC’s relationships with government agencies, development partners and private sector stakeholders, in IFC’s onward move to explore with Korean partners developing projects and investment opportunities across sectors including power, manufacturing and financial institutions in emerging markets.
“With a growing demand for infrastructure and access to information and communication technologies, private sector solutions will be critical to accelerate sustainable development worldwide,” said Vivek Pathak, IFC’s director for East Asia and the Pacific. “Korea has been playing a critical role in delivering such solutions,”
“With our extensive global experience, IFC is in a position to support Korean sponsors who seek new markets and opportunities in and outside of Asia,” said Ryu, IFC’s new resident representative in Korea.
Ryu joined the World Bank Group in 2007 and has worked at IFC and International Bank for Reconstruction and Development in Washington, Paris and Nairobi, Kenya. Most recently in Nairobi, she took on the role of a senior operations officer of the FCS Africa Program. Before that Ryu had worked for several multinational companies in Asia.
Ryu holds a master’s degree in public administration from Columbia University and a bachelor’s degree in political science and diplomacy from Dongguk University in Seoul.
Since 1985, IFC has provided over $10 billion in financing, including $6.7 billion mobilized from other investment partners, to nearly 100 Korean projects around the world. Nearly half was delivered after IFC reestablished its presence in Korea in 2013.
By Son Ji-hyoung (firstname.lastname@example.org)