IFC names new regional director of East Asia and Pacific

The International Finance Corp., a member of the World Bank Group, said Tuesday that it has appointed Kim-See Lim as the new regional director of East Asia and the Pacific.

The Malaysian national will lead investment and advisory operations across 18 countries including South Korea and oversee the IFC’s strategy in the region.

“Given the devastating impacts of the global pandemic, IFC will continue to focus on leveraging the private sector to foster a green, resilient and inclusive recovery in East Asia and the Pacific,” said Lim.

“Building back better is the only way to spur the region’s recovery out of this crisis while prioritizing renewable energy, energy efficiency, green and blue bonds, and smart cities.”

Lim is a global investment professional with 26 years of experience and has led teams in the execution and management of debt and equity investments across Africa, Asia, Eastern Europe and Latin America. She succeeds Vivek Pathak, who has assumed a new role as IFC’s director and global head for climate business.

Meanwhile, the IFC signed a record annual commitment of $3.8 billion in East Asia and the Pacific region from July 2020 to June this year. This includes $2.8 billion in long-term financing from its own account and $956 million mobilized from outside investors.

The financing is used to address the medical supply shortages in developing countries and support financial institutions serving micro, small and medium enterprises. Moreover, the IFC seeks to tackle climate change and the marine plastic crisis, back recycling projects, decarbonize hotels and foster wind power development, among others.

The IFC also provided $1.5 billion in short-term finance in the region to facilitate trade flows.

By Son Ji-hyoung (consnow@heraldcorp.com)