Description
IFC — a member of the World Bank Group — is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2023, IFC committed a record US$43.7 billion to private companies and financial institutions in developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity as economies grapple with the impacts of global compounding crises. For more information, visit www.ifc.org.
IFC’ Africa Vice-Presidency (CAF) leads the mobilization of private sector investment in Africa. Over nearly six decades, IFC has invested more than $25 billion in African businesses and financial institutions. We are a leading provider of advice to promote a sustainable private sector and mobilize capital from other investors who invest alongside IFC in critical sectors for Africa’s future. CAF’s Country Advisory & Economics team (CAE) supports the Africa region through provision of country economic diagnostics, strategy, and engagement products as well as through direct support to operational teams and country units, in collaboration with economists throughout the World Bank Group. Specifically, the economics team covers three principal functions:
I. Diagnostics and strategy: Contribute/ lead country private sector diagnostics (CPSDs), country climate development reports (CCDRs), IFC country strategies and the full range of WBG country engagement products: Performance Learning Reviews (PLRs), Systematic Country Diagnostics (SCDs), and Country Partnership Frameworks (CPFs) in collaboration with IFC Operations and partners in the World Bank Group.
II. Support to operations: Support regional operations by reviewing the economic, development and strategic impact of IFC operations, as well as contributing to the economic analysis of project documents, board papers, regional/country briefs, etc.; monitor and support the implementation of CPSD recommendations: sectoral deep dives and policy reforms implementation.
III. Analytics: Conduct in-depth analytics on specific themes relevant to private sector development at the country or regional level.
CAE hiring an Associate Country Economist to be based in Dar Es Salaam, Tanzania. The Associate Country Economist will report to the Country Advisory & Economics Manager in CAE.
Roles & Responsibilities:
• Monitor the macro-economic conditions and trends for countries in a designated IFC country cluster and advise the IFC Country Manager and operational teams on its impact on IFC operations. Help identify macro-economic risks to IFC investments and strategies to mitigate them.
• Maintain close liaison with World Bank teams, other development partners and client governments to help ensure that IFC engagements are aligned with WBG strategies and government development strategies.
• Provide macro-economic analysis to support IFC investment operations including due diligence. Draft relevant sections of IFC Board papers including country context and strategic fit.
• Lead/ Contribute to Country Private Sector Diagnostics, Country Climate Development Reports, and provide IFC input to WBG Systematic Country Diagnostics, Country Partnership Frameworks, Progress and Learning Reviews and other joint initiatives.
• Support IFC Country Manager and teams to develop IFC country strategies to help maximize IFC development impact. Support the development of industry strategies in the region. Monitor and support the implementation of Country Private Sector Diagnostic recommendations, sectoral deep dives, and policy reform implementation.
• Contribute to analytical work on selected topics that inform IFC country programs and strategies.
Selection Criteria
• Master’s degree in Economics or closely related field with a minimum of 3-7 years of relevant experience, or with PhD and 2-4 years of relevant experience.
• Ability to apply economic theory and concepts and demonstrate a solid understanding of key drivers of economic growth in emerging markets and to contribute to discussions with internal clients on topics of economic or strategic relevance.
• Ability to carry out analytical work and demonstrate judgement in making sound assumptions when there are gaps in data and information.
• Ability to assess market failures and economic soundness and feasibility of policy options to enhance investment attractiveness and private sector development, from a cross-cutting and sectoral perspective. Ability to understand the economic parameters behind private investment decision making.
• Ability to consider problems from new perspectives and expand on the thinking/solutions proposed by others; independent engagement in analysis and tasks requiring the interpretation of complex or imperfect sets of information.
• Logical, coherent approach to economic/strategic questions based on own work and an awareness of organizational or departmental strategies.
• Ability to communicate clearly economic and technical concepts to non-technical audience and present key messages and most relevant findings in compelling manner and appropriately embed empirical support for conclusions and recommendations.
• Demonstrate good command of the economics of a particular sector & key drivers of sector growth, productivity, profitability & efficiency.
• Ability to build strong work relationships with colleagues across operational teams, country teams and organizations within the World Bank Group.
• Experience in and strong knowledge of the economic context and challenges of countries in Africa.
• Solid over standing of IFC project cycles, approval/decision processes, and key drivers of IFC business decision making as well as knowledge and understanding of key IFC/WBG products and instruments and how they are deployed to pursue private sector development and country engagement.
• Excellent written and verbal communication skills and ability to communicate effectively with high level stakeholders in English and French.
World Bank Group Core Competencies
The World Bank Group offers comprehensive benefits, including a retirement plan; medical, life and disability insurance; and paid leave, including parental leave, as well as reasonable accommodations for individuals with disabilities.
We are proud to be an equal opportunity and inclusive employer with a dedicated and committed workforce, and do not discriminate based on gender, gender identity, religion, race, ethnicity, sexual orientation, or disability.
Learn more about working at the World Bank and IFC, including our values and inspiring stories.
