The International Finance Corporation (IFC) of the World Bank Group today announced the appointment of Sarvesh Suri as its new Regional Industry Director for Infrastructure and Natural Resources in Africa.
Suri, who brings more than 20 years of global investment and development expertise to his new role, will drive IFC’s strategy to connect more people and businesses in Africa to sustainable infrastructure.
In his role, Suri will lead IFC’s Infrastructure and Natural Resources investment team across Africa to develop and implement power, water, telecoms, transport and other infrastructure projects with public and private sector partners, expanding the reach of essential services. He will be based in Johannesburg, where he begins his new role on November 15.
“I am pleased to welcome Sarvesh to his new role. I know his experience delivering on critical areas of work across the World Bank Group will enable him to grow IFC’s business and impact in Africa and help close the critical infrastructure gap facing the continent,” said Sérgio Pimenta, IFC Vice President for Africa.
“This is a crucial time for Africa to expand access to clean energy, to bridge the connectivity gap through both efficient transportation and digital technologies, and to make cities more inclusive and resilient as urbanization continues. I am excited to work with the team in the region to connect more people to essential services,” Suri said.
An Indian national, Suri most recently served as the Director for Climate, Energy, Extractives, Capital, and Financial Markets Operations at the Multilateral Investment Guarantee Agency (MIGA), a member of the World Bank Group. During his time, MIGA’s business and impact grew considerably to a portfolio of over $24 billion, with notable growth in climate finance and work in fragile and conflict-affected countries.
Suri has previously worked for 15-years at IFC in various leadership roles, including as Senior Regional Manager for Indonesia, Malaysia, and Thailand. He holds a Post-Graduate Diploma in Business Management from the Indian Institute of Management, Ahmedabad, and a Bachelor’s degree in Mechanical Engineering from Delhi University.
IFC currently has an investment portfolio of $3.5 billion across infrastructure and natural resources in Africa and is continuing to grow its portfolio in key areas including renewable energy, digital infrastructure, and transportation.
IFC—a member of the World Bank Group—is the largest global development institution focused on the private sector in emerging markets. It works in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries.
In fiscal year 2022, IFC committed a record $32.8 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.
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