IFC, a member of the World Bank Group, has appointed a new Director for the Europe and Central Asia region, which comprises 28 countries and a portfolio of over $10 billion in investment and 89 advisory projects.

Wiebke Schloemer will replace current director Tomasz Telma from May 1, 2018. The former IFC regional infrastructure head, who will be based in Vienna, will lead a region that includes Turkey, Ukraine, Georgia, Serbia, Kazakhstan, Poland, Russia, and other countries, and manage a team of 420 professionals responsible for over $3 billion of new investments annually.

Schloemer has over 20 years of experience in project and corporate finance, and in private equity across a wide range of industries, including energy, transport, utilities, telecoms and technology sectors. Prior to her appointment, she led IFC’s infrastructure investments across Eastern Europe, the Middle East and North Africa, managing investments of over $5.5 billion.

“This is a region that has innovated many new products and initiatives, from energy and resource efficiency advisory to green bonds, and from the first IFC climate adaptation project to the IFC cities initiative, helping private companies grow and contribute to regional economic growth,” she said. “While the results are rewarding, challenges remain. I see our role in the region as providing private sector solutions to our client countries’ most pressing needs, like improving infrastructure, increasing effectiveness of agribusiness, supporting climate-friendly innovations in manufacturing, and strengthening local capital markets.”

Schloemer joined IFC in 2004 as an investment officer in the telecoms, media and technology (TMT) group based in Washington, DC. Her subsequent regional experience includes Europe and Central Asia, the Middle East and North Africa, and the East Asia and Pacific region.

Prior to joining IFC, Schloemer was employed at the European Investment Bank in Luxembourg, and DEG, the German Investment Corporation, working on infrastructure debt and equity transactions in Africa, Asia and Eastern Europe.

IFC—a sister organization of the World Bank and member of the World Bank Group—is the largest global development institution focused on the private sector in emerging markets.

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