New Delhi, India —IFC has appointed Hector Gomez Ang as Regional Director for South Asia. Based in New Delhi, he will play a critical role in boosting IFC’s investments in the region, as it looks to recover from the severe impacts of COVID-19.
In
taking on the new role, Gomez Ang said the private sector had an essential role
in South Asia’s recovery from COVID-19, easing the burden on constrained public
finances and reducing rising levels of poverty, due to the pandemic.
“The
pandemic has left a scar on countries throughout the region, exacting a huge
human toll of which we must remain mindful. We must also accept that we may
have to live with the lingering impacts of COVID-19 for some time to come, and
so it’s all the more imperative to continue to work together to support jobs
and economic growth,” Gomez Ang said. “That also means we must do what’s need
to ensure private sector investments can flow to where it’s needed, and in
industries we know can support economic activity.”
IFC’s
focus in South Asia will continue to center on providing much needed liquidity
to private sector companies in the region so they can maintain operations, preserve
and create jobs. IFC will also look to further support the region’s most
vulnerable people by helping deliver more funding for hard hit micro, small and
medium sized enterprises as well as promoting green growth through investments
in sustainable infrastructure, such as renewable energy and digital
connectivity, to foster a greener, more resilient, and inclusive recovery from
COVID-19.
"Given the significant shortfall of finances due to COVID and
increasing climate emergency, we are using COVID and climate as cross-cutting
entry points to find innovative solutions to the clear development challenges
in the region," said Gomez Ang. "We stand with the people and
governments of South Asia as we continue to invest in the region's private sector
despite market uncertainties. We hope this will send strong signal to other
investors and give them confidence to continue to invest in the region."
Gomez
Ang said IFC’s work to
ramp up its investments in climate-related projects was in line with the World Bank
Group’s new Climate Change Action Plan, and IFC’s aims to aim to achieve 85 percent of its
new operations to be aligned with the Paris Agreement by July 1, 2023 and 100
percent of these by July 1, 2025. IFC also sees a $2.8
trillion investment opportunity in countries such as India and Bangladesh in
rebuilding for a green sustainable future.
"IFC will continue to prioritize climate investments in the
region and help countries meet their nationally determined contributions under
the Paris Accord," Gomez Ang said. " I look forward to continuing our
work with the private sector and governments to build back a much more
resilient and inclusive society and economy through a greater focus on
innovation."
Gomez
Ang previously served as Country Manager for Angola, Mozambique, Zambia, and
Botswana, during which time he led the establishment of IFC’s operations in
Angola. Prior to that he was Country Manager for Brazil, where he led the
repositioning of IFC’s operations through the delivery of a strong investment
program and advisory engagements with federal agencies and sub-national
governments.
“Hector
brings a wealth of knowledge and experience to his new role that will be
incredibly valuable in strengthening our work in South Asia,” said Alfonso Garcia
Mora, IFC’s Vice President for Asia & Pacific. “Under his leadership, we
are confident that we can grow the portfolio in a diversified manner and leverage
all of IFC’s products and business lines to support clients and partners in
their efforts to build a resilient future in the wake of COVID-19, by advancing
critical agendas in climate, gender, and inclusive growth.”
A
Mexican national, Gomez Ang joined IFC in Mexico City in 2006 as an Investment
Officer, where he led business development in Mexico and Central America. He holds
an MBA and Chemical and Systems Engineering degrees from Tecnologico de
Monterrey in Mexico and an M.Sc. in Social Business and Entrepreneurship from
the London School of Economics.
Gomez
Ang succeeds Mengistu Alemayehu, who has assumed a new role as IFC’s Director
of Global Equity Mobilization.
