IFC - Key Persons

Job Titles:

• Vice President of Corporate Support

Elena Bourganskaia is IFC's Vice President of Corporate Support. She oversees corporate strategy, operations management, knowledge, learning, change management, human resources, and budget functions, administrative and systems support, as well as internal and external communications coverage for all IFC activities. In her role, Ms. Bourganskaia ensures that IFC has the right resources to deliver its capital increase commitments and that IFC's information and technology systems, administrative processes and procedures, as well as internal and external communications and outreach are fit for purpose and enable effective and agile decision making in support of IFC's strategy and efficient delivery for clients. Ms. Bourganskaia is also Co-Chair of the IFC's Diversity, Equity and Inclusion (DEI) Council. Previously, Ms. Bourganskaia served as the Chief of Staff to the IFC CEO / Managing Director. In that capacity, she managed a wide variety of critical corporate tasks - from development and implementation of strategy and policies to organizational, budget and personnel issues. Ms. Bourganskaia has been instrumental in several key aspects of IFC's transformation in recent years, including organizational and policy reforms to strengthen IFC's environmental and social accountability and setting up a new Upstream operating model to proactively create new investible opportunities and markets. Earlier in her career at IFC, Ms. Bourganskaia was the Global Head of Municipal & Environmental Infrastructure. She led the establishment of IFC's global Cities practice to advance private sector solutions for the most pressing urban development challenges. She also served in various other global and regional operational leadership capacities, with a consistent focus on incubating and growing nascent business lines that enhanced IFC's impact and financial sustainability. Prior to joining IFC in 1998 as a Health Specialist, Ms. Bourganskaia worked for the American International Health Alliance, an international nongovernmental organization aimed at strengthening health systems worldwide through peer-to-peer institutional partnerships. A Russian and American national, Ms. Bourganskaia holds a Master's degree in Public Administration with a concentration in Health Care Finance and Management from New York University and a Medical Doctor degree from Semashko Moscow Medical School.

Job Titles:

• Vice President of Cross - Cutting Solutions

Emmanuel Nyirinkindi is IFC's Vice President of Cross-Cutting Solutions. He identifies opportunities for closer collaboration and coordination across IFC and the entire World Bank Group to deliver solutions for clients. This involves overseeing work in four areas: to proactively create markets and enable the conditions for investments; to design effective public-private partnerships and targeted corporate finance solutions to maximize the private sector's role in development; to ensure that environmental, social, and governance (ESG) best practices are embedded throughout IFC's projects; and to design private sector strategies that enable all genders and underserved communities to fully participate in the economy. Before becoming Vice President, Mr. Nyirinkindi served as IFC's Global Director for Transaction Advisory Services. He has over 14 years of IFC experience, working mainly across infrastructure development, including, since 2015, in his role leading the global Public-Private Partnerships Transaction Advisory and Corporate Financial Services teams and operations. Mr. Nyirinkindi first joined IFC's Johannesburg office in 2006 as a Senior Investment Officer, and served as the Regional Manager of IFC's Public-Private Partnerships Advisory Services for Africa before moving to Washington, D.C. He has a proven track record of leadership and execution in advising governments on designing and bringing to market commercially robust public-private partnerships across various sectors that provide high quality, affordable and efficient infrastructure and social services to communities. Prior to joining IFC, Mr. Nyirinkindi worked for the Government of Uganda's Ministry of Finance where he introduced public-private partnerships in the electricity and railway sectors and coordinated legal and regulatory reforms in the basic infrastructure sectors. He worked in the petroleum products industry in Uganda and with the Faculty of Commerce at Makerere University in Kampala, where he earned his Bachelor of Commerce degree. Mr. Nyirinkindi also holds an MBA from the University of Kansas.

Job Titles:

• Vice President, Risk and Finance

Federico Galizia is IFC's Vice President, Risk and Finance. Mr. Galizia is responsible for managing IFC's enterprise risk framework and procedures. He oversees IFC's Investment and Credit Risk; Corporate Risk Management; Special Operations; Controller; and Environment and Social Policy and Risk functions. Mr. Galizia's global team is tasked with supporting the growth of IFC's business in an increasingly complex and fragile development landscape. An Italian national, Mr. Galizia has more than twenty-five years of experience in international organizations and financial institutions. Prior to joining IFC, he was Chief Risk Officer of the Inter-American Development Bank (IDB). In that capacity, he led the Office of Risk Management, which oversees market, credit, operational and socio-environmental risk. Mr. Galizia has also served as Head of Risk and Portfolio Management and Chairman of the Investment and Risk Committee at the European Investment Fund in Luxembourg, supporting small business debt and equity finance during the European sovereign crisis. Prior to that, he was Deputy Division Chief in the Monetary and Capital Markets Department of the International Monetary Fund (IMF) in Washington, D.C., and Adviser to the President of the European Investment Bank in Luxembourg. Mr. Galizia started his career with McKinsey, where he gained extensive experience in private sector investments across multiple industries and geographies. Mr. Galizia holds a PhD in Economics from Yale University, a Master's degree in Economics from CORIPE Piemonte, University of Turin, and a Laurea in Economia e Commercio from the University of Turin. He has published and lectured extensively on banking and financial-sector issues.

Job Titles:

• Regional Vice President for the Middle East
• Regional Vice President, Middle East, Central Asia, Türkiye, Afghanistan, and Pakistan

Hela Cheikhrouhou is IFC's regional Vice President for the Middle East, Central Asia, Türkiye, Afghanistan, and Pakistan. She is in charge of expanding IFC's business in the region, focusing on the COVID-19 crisis response and building a pipeline of private sector investment opportunities, rooted in country strategies. Ms. Cheikhrouhou fosters strong relationships with government officials, clients, other development finance institutions, co-financiers, donors, and counterparts across the World Bank Group to identify opportunities for collaboration and broader impact as well as to enhance business delivery.

Job Titles:

• Treasurer
• Vice President
• Vice President and Treasurer, Treasury & Mobilization

John Gandolfo is IFC's Vice President and Treasurer, Treasury & Mobilization. In this capacity, Mr. Gandolfo leads a global team responsible for managing IFC's financial position, safeguarding the organization's international triple-A rating and maintaining IFC's standing as a premier issuer in the global capital markets. Mr. Gandolfo leads IFC's Treasury & Mobilization global team in delivering on IFC's strategy to create markets and mobilize private capital for development, in debt and equity, leveraging IFC's decades of experience crowding in third-party institutional investors. The team manages over $100 billion in liquid assets, global market borrowings, and derivatives transactions. It is responsible for strengthening local-currency financing by arranging and executing local-currency and risk-management transactions for clients and raising third-party capital through innovative syndication and mobilization platforms such as the Managed Co-Lending Portfolio Program (MCPP) and AMC. Prior to taking the role of IFC Treasurer, Mr. Gandolfo was Director and Chief Investment Officer of the Pension and Endowments Department at the World Bank. His team managed $27 billion of World Bank Group pension and other retirement-benefit portfolios invested across a range of asset classes and strategies. Over a highly successful career spanning more than 30 years in the World Bank Group, Mr. Gandolfo acquired broad experience in financial markets and treasury operations. As Director of the Quantitative Strategies, Risk and Analytics Department, he was responsible for the development of strategic and tactical asset allocations, risk management, and financial modeling for the asset management, capital markets, and banking businesses. Before that, he was the Director of the Investment Management Department. He began his career in IFC's Financial Management and Planning Department. Mr. Gandolfo, a U.S. citizen, holds a BA from the University of Pennsylvania and an MBA from the George Washington University.

Job Titles:

• Managing Director

Makhtar Diop is IFC's Managing Director. He assumed this position on March 1st, 2021. Prior to this appointment, he was the World Bank's Vice President for Infrastructure, where he led the Bank's global efforts to build sustainable infrastructure in developing and emerging economies. In this role, he oversaw the Bank's critical work in energy, transport, digital infrastructure, and public-private partnerships. Prior to this, Mr. Diop served for six years as the World Bank's Vice President for Africa, where he oversaw the delivery of a record-breaking USD$70 billion to Sub-Saharan Africa to help tackle development challenges such as increasing access to energy; boosting women's and youth's economic empowerment; and promoting an enabling environment for more innovation and technology adoption. A passionate advocate for Africa's right to clean and affordable electricity, he also called for greater investment in renewable energy and pushed for stronger regional interconnectivity in the power and transport sectors. He previously served as World Bank Director for Finance, Private Sector & Infrastructure in the Latin America and the Caribbean Region; Country Director for Brazil, where he helped finance major infrastructure work; and Country Director for Kenya, Eritrea, and Somalia. Mr. Diop brings to the post a deep level of experience and understanding of development challenges and a firm grasp of the public/private sector interface. His main priorities will be to mobilize investments in the poorest and most fragile countries and create the conditions for a resilient, inclusive, and sustainable recovery. In addition to his international organization experience, Mr. Diop, an economist by training who started his career in the banking industry before joining the IMF and later the World Bank, has extensive private sector experience. He has also held government positions, most notably as Minister of Economy and Finance of Senegal, where he played a key role in instituting structural reforms that helped build a strong foundation for Senegal's growth in the late 1980s. A recognized opinion leader in the economic and social development field, Makhtar Diop has been named one of the 100 most influential Africans in the world. In 2015, he received the prestigious Regents' Lectureship Award from the University of California, Berkeley. Mr. Diop holds degrees in economics from the Universities of Warwick and Nottingham in England.

Job Titles:

• Chief of Staff
• Member of the LEADERSHIP Team
• Chief of Staff to IFC 's Managing Director

Before becoming Chief of Staff, Ms. Moyo was Regional Industry Director for Manufacturing, Agribusiness and Services in the Middle East and Africa, delivering on key business and development impact targets, with a focus on financial sustainability and scaling up investments in IDA/FCS countries. Previously, she held several positions within IFC, notably as Regional Head of Industry for Manufacturing, Agribusiness and Services in Latin America and the Caribbean, where she led growth through business development, execution and portfolio management. Prior to joining IFC, Ms. Moyo worked for several years with commercial banks in her home country of Zimbabwe. She also worked for the central bank in Botswana and pan-African private equity funds, where she was Vice President for Financial Institutions. Ms. Moyo holds a Master's degree in Banking and Finance from the University of Wales and a Bachelor's degree in Economic History from the University of Zimbabwe.

Job Titles:

• Vice President of Industries

Mohamed Gouled is IFC's Vice President of Industries. In this capacity, he's responsible for (i) managing IFC's global sector communities of practice and ensuring that lessons of experience from IFC operations contribute to the WBG's global knowledge bank and thought leadership; (ii) leading business development with global clients; (iii) fostering close collaboration across WBG to align sector strategies, implement the Cascade approach, enhance client delivery, and support policy/sector reforms in WBG countries of operation; and (iv) supporting operational process simplification. A Djiboutian national, Mr. Gouled was previously VP of Risk and Finance from 2017. He joined IFC in 1999 as an Investment Officer in what was then the Financial Markets Division of IFC's Sub-Saharan Africa Department. In this role, Mr. Gouled was instrumental in IFC's re-engagement in Nigeria, helping to build its Financial Markets portfolio after many years of absence from the country. In 2002, Mr. Gouled joined the Global Financial Markets Department where he worked on a number of high-profile and groundbreaking transactions including the first residential mortgage-backed securitization to come out of Eastern and Central Europe, the first tier II instrument in the Tunisian banking sector, and the first residential mortgage-backed securitization in the Gulf Cooperation Council (GCC) region. Previously, Mr. Gouled was Manager for the Financial Markets Group for Sub-Saharan Africa based in Johannesburg, where he helped build and manage a diverse and high-performing Financial Markets team, significantly increasing the portfolio and reach of IFC's investments in the region. He moved back to Washington at the end of 2009 as Chief Credit Officer in a heightened risk environment where his experience helped guide the EMENA regional investment and portfolio teams as they managed IFC's risks. He was then Director of the Special Operations Department. Prior to joining IFC, Mr. Gouled worked for the Treasury and the Industry and Infrastructure Departments at the African Development Bank based in Abidjan, Cote D'Ivoire.

Job Titles:

• Regional Vice President, Europe, Latin America and the Caribbean
• Vice President for Europe

Alfonso García Mora is IFC's Vice President for Europe, Latin America and the Caribbean. He spearheads IFC's engagements in the two regions, including operationalizing IFC's response to the Russia's invasion of Ukraine and the post COVID-19 recovery, building a strong pipeline for private sector investments rooted in country strategies, and fostering more collaboration opportunities with key stakeholders to maximize impact. Mr. García Mora, a Spanish national, brings more than twenty years of experience in financial and private sector development, with twelve years in the private sector and nine years in different positions at the World Bank Group. Most recently, Mr. García Mora was IFC's Regional Vice President for Asia and the Pacific. Prior to that, he was a Director at the World Bank in charge of different regions (including Europe and Latin America) and global units in the Equitable Growth, Finance, and Institutions Practice Group, including as Global Director of Finance, Competitiveness and Innovation. His experience working across regions and institutions has enabled Mr. Garcia Mora to further foster World Bank Group collaboration and opportunities. Prior to joining the World Bank, Mr. García Mora was a Partner and Managing Director in Analistas Financieros Internacionales (AFI), mostly focused on Europe and LAC. In that capacity, he gained extensive experience working with the private sector, regulators, governments, and development finance institutions in different countries. Mr. García Mora has a PhD in Financial Economics from Universidad Autonoma de Madrid, Spain and has also lectured and published extensively on banking and financial-sector issues.

Job Titles:

• General Counsel
• Vice President

Job Titles:

• Regional Vice President, Asia and the Pacific

Job Titles:

• Vice President, Economics and Private Sector Development

Job Titles:

• Regional Vice President for Africa