IFC Appoints Wendy Werner as New Country Manager for Maldives, Aiming to Drive Private Sector-led Inclusive Growth

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Malé, Maldives, July 1, 2024-IFC has appointed Wendy Werner as the new Country Manager for Maldives. Based in New Delhi, Werner will spearhead IFC's strategy to foster private sector-led development and drive sustainable, inclusive growth in the Maldives.

Werner, who also serves as IFC's Country Head for India, brings over 20 years of private sector development experience to the role, with a particular focus on maximizing development impact. A US national, Werner joined IFC in 2003 and has extensive experience working across South Asia, East Asia, Central Asia and Europe. As Country Head for India, IFC had a record level of investment commitments for two years running, with innovative partnerships to support MSMEs and new sectors like electric vehicles. In her previous role as the Country Manager for Bangladesh, Bhutan and Nepal, she significantly expanded IFC's portfolio, developing a pipeline of diversified projects through investment and advisory services. Her career started in the energy sector, and she has worked with governments across Asia in improving investment climate and motivating strategic private investment.

"Private sector-led growth is crucial for Maldives' growth and development. IFC aims to unlock this potential through strategic investments that drive economic transformation. With Wendy's regional and multi-sectoral experience, I am confident IFC will continue to play a pivotal role in helping achieve sustainable, resilient, and inclusive growth in the Maldives," said Imad N. Fakhoury, IFC Regional Director for South Asia.

Since 1983, IFC has supported the private sector in the Maldives with over $200 million in investments. IFC's strategy for the country focuses on three pillars: sustainability, inclusion, and connectivity. These pillars guide IFC's efforts to promote inclusive and sustainable growth, particularly in tourism, food security, gender, infrastructure and climate-smart solutions.

Commenting on her new role, Werner said, "Maldives has immense potential for private sector-led growth. As the Country Manager for IFC in Maldives, I look forward to strengthening our partnerships to amplify IFC's support in delivering impactful solutions. From strengthening climate-resilient and digital infrastructure to fostering social inclusion, we will continue to push for stronger private sector-led growth, creating more and better opportunities for all."

About IFC

IFC-a member of the World Bank-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 2023, IFC committed a record $43.7 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 global compounding crises. For more information, visit www.ifc.org.

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