Chinese to lead IFC since 1 October
Baku, Fineko/abc.az. The World Bank has announced of appointment of new Head of International Finance Corporation (IFC), part of the bank group.
The Bank reports that from 1 October, Jin-Yong Cai, Chinese in nationality will become IFCs Senior official and Executive Vice President.
Prior to accepting this appointment, Jin-Yong served as Participating Managing Director in Goldman Sachs Group and Chief Executive of Goldman Sachs Gao Hua.
“I am pleased that a world-class financial and development professional like Jin-Yong has decided to bring his considerable talent to the work of the International Finance Corporation,” said World Bank Group President Jim Yong Kim. “With his extensive knowledge of global financial markets and investment climates, he’ll help IFC identify sound, strategic private sector investments and public-private partnerships that will help reduce poverty and create greater prosperity for people in the developing world.”
“The private sector has a vital role to play in building prosperity and eradicating poverty in developing countries,” Jin-Yong said. “As the world’s leading private sector development institution, IFC has done much to create opportunity for people to escape poverty and improve their lives. Much more can be done, and I look forward to working with all of IFC’s stakeholders and clients to build on its impressive record.”
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