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The World Bank Group (WBG) is a family of five international organizations that make leveraged loans to developing countries. It is the largest and most famous development bank in the world and is an observer at the United Nations Development Group. The bank is based in Washington, D.C. and provided around $61 billion in loans and assistance to "develop...
Organization: IFC
Sector: Upstream
Grade: GG
Term Duration: 3 years 0 months
Recruitment Type: International Recruitment
Location: Washington, DC,United States; Nairobi, Kenya
Required Language(s): English
Preferred Language(s): French, Spanish
Closing Date: 2/22/2020 (MM/DD/YYYY) at 11:59pm UTC
Description
Do you want to build a career that is full of meaning and impact? The International Finance Corporation (IFC), a member of the World Bank Group, is the largest global development institution focused on the private sector in emerging markets. Working with more than 2,000 businesses worldwide, we use our capital, expertise, and influence to create markets and opportunities where they are needed most. Visit www.ifc.org
IFC has embarked on an ambitious new growth strategy (IFC 3.0) to stimulate more investment activity, especially in Low Income Countries (LICs) and Fragile and Conflict affected Situations (FCS). This strategy calls for generating our own opportunities by proactively working “Upstream” to create, deepen, and expand markets and to imagine, design and implement investment projects. It requires taking a systematic approach to understanding the regulatory and sector bottlenecks that prevent the flow of private capital into productive investment in our member countries, and addressing these bottlenecks through World Bank engagement on policy reforms and programmatic interventions at the country and sector level. It also requires capacity to leverage WBG programs and projects to (i) develop our own proactive sector interventions and (ii) to imagine and design projects even in the absence of reforms.
IFC's Disruptive Technologies and Funds Group (“CDF”) invests in private sector companies globally. IFC’s CDF has a track record of successful investments in direct venture capital across many sub-verticals, building out start-up business accelerators and investing and co-investing alongside growth equity funds. CDF is unique for both its regional and global prospective on the venture and growth equity space, long-term approach to investments, ability to leverage the resources of the entire World Bank Group, as well as its commitment to maximizing the value of its portfolio companies through sustained assistance. CDF is creating a Global Upstream Unit (GUU) to drive the upstream mandate to incubate opportunities, focus resources, and coordinate initiatives across IFC and the WBG to create new markets. Ultimately, the unit aims to create a multiyear pipeline of investments / projects that accelerate the ability of IFC to meet its strategic development goals.
Connectivity and technological advancements are disrupting the traditional development paradigms, as digital solutions are transforming the delivery of products and services in all sectors. Unfortunately, digitization is still nascent in most emerging markets and unless swift action is taken by the development community, the development gap is expected to increase multiple times for countries which do not get onboard to the Digital Economy. In response to this critical challenge, and aligned with IFC’s new strategy, IFC and IBRD (the “World Bank”), launched a joint initiative called Digital Economy for Africa (“DE4A”) to unlock Africa’s development potential, by promoting digital access, entrepreneurship and digital skills. Under DE4A, World Bank and IFC staff are offering a “one-stop-shop” solution whereby policy, regulatory, and market specialists provide direct interventions in selected countries, aiming to develop the growth of technology-based solutions and businesses and access to growth capital. The World Bank and IFC have also decided to extend the Digital Economy initiative to Central America and South Asia. When combined with the World Bank Group’s ID for Development Initiative (“ID4D”), which is working to create a global simple digital ID combined with biometrics to enhance financial inclusion and other services, opportunities exist for many new business models.
IFC is seeking a Global Upstream Lead – Disruptive Technologies and Funds to be based in Washington, DC or Nairobi, Kenya to drive the Upstream work for CDF, as well as coordinate with colleagues who are focused on other areas such as digital infrastructure and transport. The selected candidate will focus on developing high-quality Upstream pipeline in partnership with the relevant Country/Regional Managers, Regional Industry Managers, Global/Regional sector teams and Regional Upstream Leads. S/he will also support policy work and other interventions across the World Bank Group to prioritize various initiatives and to maximize the impact of Upstream efforts. The position will report to the Senior Director of Disruptive Technologies and Funds.
Duties and Accountabilities
The roles and responsibilities of the position will include but not be limited to:
Selection Criteria
Poverty has no borders, neither does excellence. We succeed because of our differences and we continuously search for qualified individuals with diverse backgrounds from around the globe.
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