THE International Finance Corporation (IFC), the private sector arm of the World Bank Group, has appointed Deva De Silva as its first resident representative in Fiji.
Mr De Silva, who served as IFC’s senior country officer, will now oversee their operations in Fiji including Samoa, Tonga and Kiribati.
He will manage the day to day operations of the IFC office at the soon-to-be World Bank regional hub in Suva.
Mr De Silva will also take charge in identifying and developing new business opportunities and deliver IFC’s program, adapting the varied product and service offering of IFC to suit Fiji and other Pacific Island countries’ needs.
In his previous role, Mr De Silva had led IFC’s engagement in Fiji and developed a comprehensive and integrated advisory services program and an investment pipeline within a short period of time.
According to a statement from IFC, Mr De Silva has been a key member of IFC’s Pacific team, playing a lead role in developing investment and advisory programs across the region.
Prior to moving to the Pacific region he was part of the South Asia financial markets team of IFC and was later based in Colombo as IFC’s head of advisory services for Sri Lanka and Maldives.
Mr De Silva joined IFC in Colombo, Sri Lanka in 2006 and counts over 24 years’ experience in banking and finance in emerging markets.
His portfolio includes 20 years in development finance covering SMEs banking, microfinance, infrastructure, housing finance, renewable energy and business advisory services.
Mr De Silva holds a Bachelor of Commerce Honours Degree and an MBA and is also a Chartered Management Accountant and a Chartered Marketer of UK.
He has also served a number of key positions such as a teaching fellow of the International Development Faculty of the Harvard University, US and as a faculty member of the Duke Centre for International Development of the Duke University, US for programs on investment appraisal and risk analysis.
IFC fosters sustainable economic growth across the Pacific region by financing private sector investment, mobilising capital, and advising businesses and governments on projects that generate returns for investors and provide lasting benefits to communities.
Recently, IFC and the Australian Government launched the Fiji Partnership — a first initiative of its kind in Fiji which will support economic growth and poverty reduction through private sector development.
The four-year $US9 million ($F19m) program will also help in the expansion of the role of the private sector in Fiji, enabling the country to become more competitive in delivering sustainable economic opportunities to the Fijians.
