IFC appoints new director for Africa

Idowu Abdullahi
Idowu Abdullahi

The International Finance Corporation of the World Bank Group on Tuesday appointed Sarvesh Suri as its new Regional Industry Director for Infrastructure and Natural Resources in Africa.

In a statement, 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.

Commenting on his appointment, IFC Vice President for Africa, Sérgio Pimenta, said the appointment will enable Sarvesh to grow IFC’s business.

“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,” the statement quoted him as saying.

On his part, Suri said, “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.”

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, a member of the World Bank Group.

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.

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