At the request of Carole Brookins, U.S. executive director of the World Bank Group, USCIB organized a timely meeting for the New York financial community in November with senior World Bank executives.
The high-level briefing was attended by some 50 senior executives from a variety of U.S. and foreign financial institutions. Hosted by J.P. Morgan Chase, the meeting was designed to familiarize members and other executives with the financial products the World Bank will use to engage the private sector as it moves forward to address the $540 billion annual infrastructure financing needs in its client countries.
In addition to Ms. Brookins, panelists included Peter Woicke (executive director, International Finance Corporation and managing director, World Bank Group), Kenneth Lay (deputy treasurer, World Bank treasury department), Katherine Sierra (vice president for infrastructure, IFC) and Yukiko Omura (executive vice president, Multilateral Investment Guarantee Agency).
Among the topics discussed were the impact that the amounts of capital at stake will have on the public sector and the private markets. The World Bank is developing a new range of financial products to engage various Bank agencies and the private sector to address the financing needs in developing countries.
The briefing was part of the World Bank’s effort to gain private-sector input to identify ways to catalyze private sector investment, including the incorporation of such tools as sub-sovereign lending, capital markets, structured finance, guarantees, syndications, local currency financing and credit derivatives.
Staff contact: Shaun Donnelly