The International Finance Corporation has appointed Jean Marc Arbogast as the World Bank private investment arm’s country manager in the Philippines.
Arbogast has relocated from Washington DC to Manila to drive the institution’s development of new investment and market opportunities in a nation that has plunged into recession borne out of the Covid-19 pandemic.
He will play a “critical role” in building IFC’s portfolio and impact in the country as “timely measures are important to cushion against health and economic shocks and support the country’s most vulnerable people”, the IFC said in a statement.
The French national takes on his new role after eight years with the organisation, where he helped formulate and articulate strategic priorities and led investments across renewables, water and waste infrastructure, including waste-to-energy technologies.
Arbogast’s experience in impact investment is seen to “help IFC optimise opportunities and mobilise the private sector to deliver impactful investments in the Philippines”, said Vivek Pathak, IFC’s regional director for East Asia and the Pacific.
“The Covid-19 pandemic has already taken a heavy toll on households and businesses in the Philippines,” Arbogast said. “IFC’s priority is to help drive a sustainable and inclusive recovery in the country.”
For nearly six decades, the IFC has invested more than US$3 billion to support over 100 private sector companies in the Philippines, including the country’s first Philippine peso green bond, aimed to mobilise climate finance.
Its strategic priorities in the country include reducing the impacts of climate change, deepening financial inclusion, and promoting sustainable infrastructure, which the IFC said will better support the Philippines throughout the Covid-19 pandemic.
