Council member

Philippe Le Houérou, Former CEO of IFC

Philippe Le Houérou was Chief Executive Officer of IFC from March 2016 to September 2020. Mr. Le Houérou designed and implemented a new strategy aimed at “creating new markets and opportunities” in developing countries. This strategy, known as IFC 3.0, transitioned the organization towards proactively expanding private sector solutions to development challenges in IFC’s countries of operation. The strategy also involves working more closely with the World Bank, other development partners, and governments.

To support this strategy, Mr. Le Houérou introduced a system that measures development impact in each IFC project at its inception; developed the “Cascade” approach—trying private solutions before going for public finance—that leverages the entire World Bank Group to attract much more private sector investment and optimize public debt in developing countries; helped create new instruments to attract more private sector investments in fragile states and poor countries; and established country private sector diagnostics and IFC country strategies. Shareholders’ support of this strategy led to their endorsement in 2018 of a historic capital increase for IFC. To align the organization with the new strategy, Mr. Le Houérou also oversaw a restructuring that strengthened economics; partnerships; corporate alignment among strategy, budget, and human resources; country focus; and upstream work to generate bankable projects.

Prior to his arrival at IFC, Mr. Le Houérou was Vice President for Policy & Partnerships at the European Bank for Reconstruction and Development in 2015. He previously held several leadership positions at the World Bank. As the World Bank’s Regional Vice President for South Asia from 2013 to 2015, he designed a new regional strategy, restructured the Bank’s regional portfolio, and more than doubled new lending. He was Regional Vice President for Europe and Central Asia from 2009 to 2013, where he led the Bank’s effort to mitigate the global economic crisis’ impact on the region.

He also held other key managerial positions at the Bank, including Vice President of Concessional Finance and Global Partnerships; Acting Vice President and Chief Information Officer; Director of Finance and Resource Mobilization; Macro-Fiscal Sector Manager for Southern Africa and Indian Ocean countries; and Resident Representative in Madagascar.

Mr. Le Houérou holds an MBA from Columbia University and a Ph.D in Economics from the Institut d'Etudes Politiques de Paris.


Council Members

Mahesh Kotecha, President, Structured Credit International Corp. (SCIC)

Mahesh is President and founder of Structured Credit International Corp. (SCIC), which provides financial advisory services on ratings and capital markets access for emerging markets and other clients.

Raj Kumar, CEO, Devex

Raj is the founding president & editor-in-chief of Devex, the media platform for the global development community. Devex is committed to ensuring that global development efforts do more good for more people.

Philippe Le Houérou, Former CEO of IFC

Philippe Le Houérou was Chief Executive Officer of IFC from March 2016 to September 2020. Mr. Le Houérou designed and implemented a new strategy aimed at “creating new markets and opportunities” in developing countries.

Carol Pepper, Founder & CEO, Pepper International

Carol Pepper is the Founder and CEO of Pepper International, a highly respected Family Office and Consulting Firm. In 2021, she is delighted to be celebrating her 20th year as the most trusted independent Family Office Advisor on the planet.

Durreen Shahnaz, CEO, IIX

Durreen Shahnaz, a global leader of social impact and impact investing, is the founder of Impact Investment Exchange (IIX) and IIX Foundation.

Timothy Turner, Former AfDB Group Chief Risk Officer

Tim Turner is currently working for the Trade and Development Bank of Eastern and Southern Africa (TDB) as senior advisor to the President with a focus on financial innovation.

Staci Warden, Executive Director, Global Market Development, Milken Institute

Staci Warden is the executive director of Global Market Development at the Milken Institute, where she leads strategic initiatives on developing capital markets, innovative finance, FinTech for financial inclusion, and access to capital.


Officio Members

Preeti Sinha, Executive Secretary, UNCDF

Ms. Sinha is a globally experienced investment and development banker with a 30-year track record associated with raising and managing institutional public and private development capital.

Xavier Michon, Deputy Executive Secretary, UNCDF

With over 2 decades of experience in the UN, brings in-depth knowledge of programme and operations at HQ and in the field.

Stay Connected