Washington, Feb. 9, 2021—IFC, a member of the World Bank Group, today announced the appointment of Martin Spicer as director for Latin America and the Caribbean. In his new role, Spicer will oversee IFC's operations in the region. He will focus on inclusive growth, competitiveness and innovation, and regional and global integration, while applying climate and gender lenses for IFC's operations in the region.
"Latin America and the Caribbean is a priority for IFC. Given the COVID-19 pandemic, Spicer's leadership skills and his wealth of experience will help us play a key role in catalyzing private investment in the region," said Georgina Baker, IFC's Vice President for Latin America and the Caribbean and Europe and Central Asia. "Moving forward, we will continue to engage with all relevant stakeholders to leverage the power of the private sector, which is crucial for creating jobs and essential for a resilient recovery."
The region's economic activity, according to the World Bank, is expected to contract by an estimated 7.9 percent in 2020, making it a far deeper recession than those during the 2008-09 global financial crisis and the Latin America debt crisis in the 1980s. However, several factors including large stimulus packages and social transfer programs are expected to fuel a regional economic rebound of 4 percent in 2021, provided the local and global conditions are normalized.
"With COVID-19 upending millions of lives, livelihoods, businesses, and the global economy, IFC's role in Latin America and the Caribbean is more critical than ever. In my new capacity, I look forward to deepening relationships with our long-term partners while forging new ones to mobilize private capital in the region, thus driving a sustainable and inclusive growth trajectory," said Spicer, IFC's newly appointed director for Latin America and the Caribbean.
A US national, Spicer has over 25 years of experience with IFC. Most recently he was IFC's director Blended Finance and he has also held several leadership positions, managing teams responsible for investments in IFC's manufacturing, agribusiness and services business in Latin America and the Caribbean, telecommunications, media and technology business in Asia, Europe, Middle East and North Africa, and for infrastructure and natural resources in Europe.
Spicer holds an MBA from the Wharton School of the University of Pennsylvania, and an MA from the School of Advanced International Studies (SAIS) at Johns Hopkins. He also has a degree from Stanford University in Values, Technology, Science and Society. Prior to graduate school, Spicer was a Peace Corps Volunteer in Gabon.
In fiscal year 2020, IFC committed a record $7.1 billion to support private sector development in Latin America and the Caribbean, enabling investments to foster sustainable growth across the region, create jobs, and fight the impacts of the COVID-19 pandemic. Despite the challenges of delivering during a global health pandemic that is still unfolding in Latin America and the Caribbean, IFC exceeded its previous record commitment of $6.2 billion in the region during fiscal year 2019.
About IFC
IFC—a member of the World Bank Group—is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2020, we invested $22 billion in private companies and financial institutions in developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity. For more information, visit www.ifc.org.
Stay Connected
www.ifc.org/lac
www.twitter.com/IFC_LAC
www.linkedin.com/company/ifc-américa-latina-y-el-caribe
www.facebook.com/IFCwbg
www.instagram.com/ifc_org/
www.youtube.com/IFCvideocasts
www.twitter.com/IFC_org
www.ifc.org/SocialMediaIndex
Stay Informed
Sign up to have customizable news & updates sent to you.