Haydée Celaya, a U.S. national, joined the International Finance Corporation (IFC) in 1991 in the Capital Markets Department. She became Manager of the Latin America Division in 1997. She served as Associate Director of IFC's LAC Department before becoming Director of the IFC’s Sub-Saharan Africa Department in June 2000. Africa is a top challenge and priority for IFC. During her assignment, she was responsible for IFC’s private sector development initiatives in the region, for leading the development and implementation of IFC’s strategy for the region, and for developing business opportunities for IFC. In September 2004 she assumed her current position, Director of the IFC’s Private Equity and Investment Funds Department. The Department manages one of the largest portfolios of emerging markets investment funds in the world and has also pioneered the creation of the first benchmarks for emerging markets private equity, established the Investors Workshop, and is a founder of the Emerging Markets Private Equity Association (EMPEA).
Before joining IFC, she held various positions in the private financial sector, including senior executive positions in commercial and investment banking. Ms. Celaya is a graduate of Georgetown University and The American University in Washington, D.C.
International Finance Corporation (IFC)
IFC, a member of the World Bank Group, fosters sustainable economic growth in developing countries by financing private sector investment, mobilizing private capital in local and international financial markets, and providing advisory and risk mitigation services to businesses and governments. IFC’s vision is that people have the opportunity to escape poverty and improve their lives. In FY07, IFC committed $8.2 billion and mobilized an additional $3.9 billion through loan participations and structured finance for 299 investments in 69 developing countries. IFC also provided advisory services in 97 countries. For more information, visit www.ifc.org.
IFC in the Middle East & North Africa Region
Investment commitments reached $1.44 billion for 50 projects in 12 countries in FY08 and we mobilized an additional $819 million through syndications and structured and securitized products. By number of projects, 32% of new investments are in the poorest countries of the region, and 14% in conflict-affected countries. New clients accounted for 78% and South-South investments for 32% of total projects. MENA’s portfolio is spread across the region, with the biggest concentration in the financial and infrastructure sectors. In advisory services, IFC has been active in 14 of the region’s 19 countries in FY08; with 32 new projects approved, 34% of them in the poorest countries and 13% in conflict-affected countries. Total expenditure for advisory services was over $22 million mostly spent on access to finance and corporate advice. To date, advisory services have facilitated an estimated $1.5 billion in infrastructure investment and helped generate government revenues of nearly $1.3 billion through public-private-partnerships and privatization. Using a variety of programs, IFC has helped underserved group access financing of about $3.8 billion, which includes 1.6 million microfinance loans.
Investments in Private Equity Funds
Since 2000, IFC has supported the growth of good emerging market fund mangers. As of June 2008, IFC’s outstanding commitments to private equity funds exceed $1.9 billion invested in 135 funds, which in turn invested in 550 companies in about 70 countries. The estimated net internal rate of return since 2000 was more than 21% at the end of FY08. The portfolio of MENA funds reached a total of 9 funds with commitments of $705 million and an IFC net commitment of $103 million.