The strategy during his tenure was clear, former IFC EVP Moeen Qureshi (1976-1981) says. Investing in some of the larger countries meant IFC would have resources to assist the poorer ones, and fostering financial institution-building and partnerships meant it could help establish local capacity for investments. The strategy was successful beyond anyone’s dreams. Qureshi adds, however, he is just as proud of IFC’s innovations in the years after he left, in the areas of microfinance, health, and education.
Short Video Clip l Full Interview (9 min)
Cementos Argos is Colombia’s leading cement company, successful at home and in Venezuela, Haiti, and other countries. Both Argos
and its sister insurance company Invensura are investment clients that now also use IFC expertise in corporate governance, employee health and safety, among others. As CEO Jose Alberto Velez notes, IFC has helped increase the transparency of Latin American firms, making them more attractive to foreign investors.
Short Video Clip l Full Interview (6 min)
Finding new ways of combining public and private sector financing to support infrastructure projects in emerging markets was a big part of what made IFC unique during his tenure, says former EVP Jannik Lindbaek (1994-1998). Commenting on the emerging markets’ great needs for infrastructure financing and expertise, Lindbaek says despite mixed results, he remains convinced they are key to a country’s economic development process.
Short Video Clip l Full Interview (11 min)
Colombia’s Nacional de Chocolates makes not just chocolate, but a broad range of products that make it number one in the local food industry. It is currently working with IFC to raise its corporate governance to international standards—something that stands as a
top priority for CEO Carlos Piedrahita.
Short Video Clip l Full Interview 41 min)
Countries such as Pakistan are regarded as the frontier of the global economy, but IFC has proven how valuable our role can be in such a context. Much of it stems from our long-term relationship with a cornerstone of its private sector, Packages Ltd. As founder Babar Ali explains, working with IFC for 42 years inspired him to build his company to what is today, along the way attracting blue-chip investors like Nestle and developing supply chain linkages and a social responsibility program that set an excellent model for others in Pakistan.
Short Video Clip l Full Interview (8 min)
Turning a small institution operating at a loss into an engine of development for emerging markets--at a time when the term didn't
exist-- was Sir William Ryrie's main challenge as IFC EVP from 1984 to 1994. Although in poor health, Ryrie -- IFC's longest serving EVP --
sat for an interview, saying growth was the main driver as he led IFC on a wave of innovation which propelled the Corporation to new heights in
capital markets creation and financial intermediation.
Short Video Clip l Full Interview (4 min)
Former IFC Chief Financial Officer Richard Frank’s leading role in overseeing IFC’s capital increases -- twice, in 1985 and in 1991 --
is among his proudest moments in a 16-year career rife with extraordinary achievements. Frank, who went on to become Managing Director for Private Sector issues at the World Bank, talks about the nail-biting responsibility of winning the AAA rating from Moody’s and Standard & Poor's.
Short Video Clip l Full Interview (12 min)
One of the remarkable strengths of IFC during his tenure, former World Bank Group President James Wolfensohn (1995-2005) notes
in a recent interview, is its ability to innovate. Securitization was one such area of innovation, but far from the only one, Wolfensohn said, describing IFC’s leading role, along with the World Bank, in introducing new methods of financing in developing countries.
Short Video Clip l Full Interview (18 min)
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