Vienna, Austria, July 8, 2022—IFC has appointed Lisa Kaestner as the new Country Manager for Ukraine and Moldova. In her new role, Kaestner will work to mobilize investment and support the private sector in the two countries while overseeing IFC's response to the war in Ukraine and the post-war recovery agenda in the region.
Kaestner takes on this new role at a time when the region is deeply affected by the war and economic uncertainty. Ukraine faces massive destruction of its urban centers, while millions of Ukrainians are being forced to flee their homes. Despite the challenges, the private sector can play a signicant role in the recovery of the region and its economic transformation.
"The war has created significant headwinds for the global economy while causing the largest refugee crisis in Europe since the Second World War. In response, catalyzing private investment is key to tackling the unprecedented challenges. Lisa Kaestner's broad experience will help IFC implement a response to the regional and global impacts of the war, aiming to attract much-needed private sector investment to support Ukraine and its neighbors," said Alfonso Garcia Mora, IFC's Vice President for Europe, Latin America and the Caribbean.
A US national, Kaestner joined IFC in 1999 as the resident representative in Georgia. Since then, she has fulfilled a variety of roles in both IFC and World Bank mostly in Eastern Europe and Central Asia. The last four years, Kaestner gained experience in Africa, where she led IFC's advisory services to governments in Eastern and Southern Africa, supporting reforms and policy implementation for private sector-led growth across a range of sectors—including agribusiness, tourism, and housing to ICT and the financial sector. Most recently, she briefly served as the County Manager for Sri Lanka and Maldives until being asked to take up the role in Ukraine and Moldova, due to the unprecedented circumstances.
Commenting on her new role, Kaestner said, "I am honored to have the opportunity to lead IFC's operations in this important region at this critical moment. I look forward to working closely with our public and private sector partners to help revitalize Ukraine's economy. I will also work with other multilateral and bilateral stakeholders supporting Ukraine, to coordinate our response and ensure long-term support to Ukraine and neighboring countries affected by the war."
Kaestner holds a Master's degree in Public Policy and Economics from Princeton University. She succeeds Jason Pellmar, who has assumed a new role in IFC's South Asia region, after enabling landmark transactions in Ukraine across multiple industry sectors, boosting private sector growth and job creation.
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 2021, IFC committed a record $31.5 billion to private companies and financial institutions in developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity as economies grapple with the impacts of the COVID-19 pandemic. For more information, visit www.ifc.org.
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