World Bank appoints former senior official to head IFC
WASHINGTON Nov 11 (Reuters) - The World Bank on Wednesday appointed a former senior official to head its private sector investment arm, the International Finance Corporation (IFC) .
Philippe Le Houerou, who left the World Bank to become a vice president at the European Bank for Reconstruction and Development in January, will take up the position of IFC executive vice president and chief executive officer.
The IFC has nearly $18 billion invested in a range of projects in developing countries, from ports in Mexico to microfinance in Morocco.
Le Houerou replaces Jin-Yong Cai, whose departure was announced on Friday along with that of World Bank Chief Financial Officer Bertrand Badre. (Reporting by Krista Hughes; Editing by Matthew Lewis)
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