July 21: The International Finance Corporation (IFC) has appointed Hector Gomez Ang as its 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, IFC said in a statement on July 20.

Assuming his 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,” the statement quoted Gomez Ang as saying.

“That also means we must do what’s needed to ensure private sector investments can flow to where it’s needed, and in industries, we know can support economic activity,” he added. 

According to IFC, its focus in South Asia will continue to centre 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 infrastructures, such as renewable energy and digital connectivity, to foster a greener, more resilient, and inclusive recovery from Covid-19, the statement added.

"IFC will continue to prioritize climate investments in the region and help countries meet their nationally determined contributions under the Paris Accord," Gomez Ang added.

Gomez Ang previously served as country manager for Angola, Mozambique, Zambia, and Botswana. 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. 

Gomez Ang succeeds Mengistu Alemayehu, who has assumed a new role as IFC’s Director of Global Equity Mobilization.