IFC likely to appoint new country head for Sri Lanka

International Finance Corporation (IFC) of World Bank Group is likely to appoint a new country head for Sri Lanka. 

Mirror Business learns that incumbent IFC Sri Lanka Country Manager Adam Sack is currently overseas, orienting himself for his next routine country assignment at IFC.

Sack has been the Sri Lankan Country Director since 2011. During his management, IFC invested heavily in infrastructure, tourism, renewable energy, finance, and healthcare. Sack oversaw the investments into the retail sector of Cargills Group, co-funded NDB Bank private equity fund and initiated a marketing programme for the East coast of Sri Lanka in partnership with global media giant National Geographic.

In 2014 alone, IFC invested US$ 316 million in Sri Lanka, a 233 percent increase over US$136 million in 2013. Its total commitment to the country stood at US$596 million by end-2014. (CW)