Paolo Martelli appointed IFC's South Asia Head

Kolkata, May 29 (UNI) Paolo Martelli has been appointed as the new Regional Director for South Asia at IFC, the private sector arm of the World Bank Group.

An official release here said the IFC's strategy in the region include promoting private investment in infrastructure and providing advice on specific projects, including public-private partnerships, investing equity and debt in midsize companies and helping them become internationally competitive, with a special focus on agribusiness etc.

IFC Regional Vice-President for Asia and Latin America Farida Khambata said,''Paolo Martelli, with his rich experience from other emerging markets, is well placed to take the agenda of inclusive development." Outgoing regional director Iyad Malas said, "Our strategy over the years and today is in line with our broader development goal to promote open and competitive markets in developing countries. Today IFC not only invests, but also manages advisory programs in extremely challenging and difficult markets." Mr Martelli said, ''Going forward, our focus sectors include infrastructure, increasing access to finance to underserved segments of the market, manufacturing, including engineering and pharmaceuticals, services sectors, such as tourism, information technology and healthcare; and rural development, including agriprocessing, rural finance and rural infrastructure." The release said Mr Martelli had joined IFC in 1996 as an investment officer. Previously he held senior financial positions at the Merloni Termosanitari Group in Italy and was an investment banker with Nomura International in London.

IFC, the private sector arm of the World Bank Group, promotes open and competitive markets in developing countries.

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