Program

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program 4

program with session descriptions 9

speaker bios 19

contents

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Session 2APreston Auditorium

Session 2BMC2-800

Session 2CMC4-800

11:00–12:30

How much does enterprise informality matter?What to do about itModerator John Page, World BankSpeakers Keith Hart, Goldsmiths College, London William F. Maloney, World Bank Jaana Remes, McKinsey Global Institute

What is the role of public support for commercial innovation?The arguments, the evidence, and best approachesModerator Pierre Guislain, FIAS World Bank-IFC Speakers Itzhak Goldberg, World Bank Adam B. Jaffe, Brandeis University Howard Pack, Wharton School of Business

Going subnational with business environment reform Why it’s different and how to do itModerator Makhtar Diop, World BankSpeakers Paramita Dasgupta, World Bank Salama Fahmy, Canadian International Development AgencyLuke Haggarty, IFC

12:30–2:00 Break

8:30–9:00 Registration and BreakfastPreston Auditorium

9:00–10:30

Session 1 Preston AuditoriumWhere is the world going?What are the opportunities—and the challengesModerator Michael Klein, Vice President, Private Sector Development, World Bank-IFC, and Chief Economist, IFCSpeakers Thomas L. Friedman, New York Times Cho Khong, Shell International Kenneth L. Pomeranz, University of California, Irvine

10:30–11:00 Coffee

MorningTuesday, April 4

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Session 3APreston Auditorium

Session 3BMC2-800

Session 3CMC4-800

2:00–3:30

Private sector development to overcome conflictWhat to do, when, and how to sequence itModerator Simon Bell, World BankSpeakersLisa Curtis, U.K. Department for International Development Anthony Makana, Minister of Trade, Commerce, and Supply, Southern Sudan Marc Reichel, ConsultantRichard Stern, FIAS World Bank-IFC

Privatization: where does it stand?Business as usual or a new World Bank Group approach to an unfinished agenda?Moderator Pierre Guislain, FIAS World Bank-IFCSpeakers Sunita Kikeri, World Bank-IFC John Nellis, International Analytics and Center for Global DevelopmentBernard E. Sheahan, IFC

What are private sector development operations contributing to development?The challenge of measuring development resultsModerator Roland Michelitsch, IFCSpeakers Erik Berglöf, European Bank for Reconstruction and Development Michael Klein, World Bank-IFCCharles O. Sethness, Millennium Challenge Corporation

3:30–4:00 CoffeeSession 4APreston Auditorium

Session 4BMC2-800

Session 4CMC4-800

4:00–5:30

South-South foreign direct investment: current trends, future prospectsWhat they mean for host countries and World Bank Group operations Moderator Reyaz A. Ahmad, IFCSpeakers Dilek Aykut, World Bank Stephen Gelb, EDGE Institute Anne Miroux, UNCTAD Antoine van Agtmael, Emerging Markets Management

How to improve governance in state-owned enterprisesApplying lessons learned from corporate governance reforms in the private sectorModerator Teresa Barger, World Bank-IFCSpeakersJosé A. Gómez-Ibáñez, World Bank William P. Mako, World Bank Simon C. Y. Wong, McKinsey & Company, London

Access to finance for poor people: the formal alternativeWhy the mainstream financial sector is overtaking microcredit specialists and what barriers still hold it backModerator Elizabeth L. Littlefield, Consultative Group to Assist the PoorSpeakers Martin Holtmann, Consultative Group to Assist the Poor Gautam J. Ivatury, Consultative Group to Assist the PoorElisabeth Rhyne, ACCION International Peer Stein, IFC

5:30–7:00 CocktailsMC12 Gallery

AfternoonTuesday, April 4

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Session 6APreston Auditorium

Session 6BMC2-800

Session 6CMC4-800

11:00–12:30

Latin America and the challenge from China How governments should support firm competitivenessModerator Susan G. Goldmark, World BankSpeakers Pravin Krishna, Johns Hopkins University Ernesto López-Córdova, Inter-American Development BankPedro Sampaio Malan, Unibanco and former Minister of Finance, Brazil

Chindia surprisesAre China and India violating the PSD “dogma”?Moderator Dimitris Tsitsiragos, IFCSpeakersShantayanan Devarajan, World Bank Yasheng Huang, MIT Sloan School of Management Sridhar Ramasubbu, Wipro Technologies Joerg Wuttke, BASF China

Tapping Africa’s export potential beyond commoditiesWhat’s the right mix of economywide and industry-specific reforms?Moderator John Page, World BankSpeakers Alan Gelb, World Bank Maggie Kigozi, Uganda Investment Authority

12:30–2:00 Break

8:30–9:00 BreakfastPreston Auditorium

9:00–10:30

Session 5 Preston AuditoriumHow to reform the business environment?Lessons from those who have done itModerator Simeon Djankov, World Bank Speakers Pedro Sampaio Malan, Unibanco and former Minister of Finance, Brazil Mahmoud Mohieldin, Minister of Investment, EgyptTarrin Nimmanahaeminda, Siam Pithiwat and former Minister of Finance, Thailand

10:30–11:00 Coffee

MorningWednesday, April 5

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AfternoonWednesday, April 5

4:00–5:30

Session 8Preston AuditoriumThe cost of corruption and the role of the private sector in fighting itHow can business environment reforms help?Moderator Michael Klein, World Bank-IFCSpeakers Ashraf Ghani, Kabul University and former Minister of Finance, Afghanistan Mohamed Ibrahim, Celtel International Mahmoud Mohieldin, Minister of Investment, Egypt

Session 7APreston Auditorium

Session 7BMC2-800

Session 7CMC4-800

2:00–3:30

Better business regulationWhere to start, what to do, what tools to use?Moderator Randi Ryterman, World BankSpeakers Ali Haddou-Ruiz, Federal Competition Commission, Mexico Peter Ladegaard, FIAS World Bank-IFC Andreja Marusic, Council for Regulatory Reform, Serbia

First steps in advocacy: building momentum for reform in poor investment climatesWhat strategies are working, and what is the role for donors?Moderator Joseph O’Keefe, IFCSpeakers Beatriz Boza, Ciudadanos al Día, Peru Ahmed Mansur, Nigerian Economic Summit Group Farooq Sobhan, Bangladesh Enterprise Institute

Legal and political empowerment of the poorWhat does it mean, what does it deliver, how to do it better?Moderator Melissa Johns, World Bank-IFCSpeakersSteen Lau Jorgensen, World Bank Ana Palacio, Spanish Parliament, former Minister of Foreign Affairs, Spain, and World Bank Ernesto Schargrodsky, Universidad Torcuato Di Tella, Argentina

3:30–4:00 Coffee

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MorningThursday, April 6

8:30–9:00 BreakfastMC4-800

9:00–10:30

Session 9MC4-800 Private sector development strategy: where is the World Bank Group business going?What are the new opportunities and challenges, and how to meet themKeynote Speaker Michael Klein, World Bank-IFC

10:30–11:00 Coffee

11:00–12:30Session 9 Private sector development strategy: where is the World Bank Group business going? (cont’d)

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Session 2A—How much does enterprise informality matter?What to do about it

April 4, 11:00–12:30Preston Auditorium

ModeratorJohn Page, Chief Economist, Africa Region, World Bank

SpeakersKeith Hart, Goldsmiths College, LondonWilliam F. Maloney, Lead Economist, Latin America and the Caribbean Region, World BankJaana Remes, Senior Fellow, McKinsey Global Institute

OrganizersThomas Kenyon, Consultant, World BankRoy Pepper, Lead Investment Policy Officer, FIAS World Bank-IFC

Session Description Research inside and outside the World Bank shows the continuing significance of informality and suggests its adverse consequences for private sector development. Informality deters investment and productivity growth—even as informal activities provide income and employment for large shares of the labor force in developing countries. This session will review the latest findings on informality from the World Bank’s business survey and empirical work and discuss the McKinsey Global Institute’s work in Brazil and Turkey on the cost and productivity implications. It will explore the relationship between informal and formal sectors, the “rules” and “structures” shaping the informal sector, and possible ways to reconcile the two systems. The session will conclude with a discussion of different approaches—blending “carrots” and “sticks”—that governments have adopted to reduce informality.

Session 1—Where is the world going?What are the opportunities—and the challenges

April 4, 9:00–10:30Preston Auditorium

ModeratorMichael Klein, Vice President, Private Sector Development, World Bank-IFC, and Chief Economist, IFC

SpeakersThomas L. Friedman, New York Times foreign affairs columnist Cho Khong, Chief Political Analyst, Shell InternationalKenneth L. Pomeranz, Chancellor’s Professor of History, University of California, Irvine

Organizer Bita Hadjimichael, Consultant, Private Sector Development Vice Presidency, World Bank

Session Description What incentives, opportunities, and challenges do globalization and the associated “flattening” of the world pose for policymakers in industrial and developing countries—and for the private sector? How can public policy and new business practices leverage technical innovation and the world’s increasing connectedness to improve firm performance? What can economic history tell us about today’s economic landscape and the direction the world is going? In a broader sense, what “dynamic tensions” are reshaping the business environment and informing the challenges we will face in the coming decades in governing, innovating, learning, and acting collectively to create a better future for all? These are some of the key questions this session will address.

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Session 2B—What is the role of public support for commercial innovation?The arguments, the evidence, and best approaches

April 4, 11:00–12:30MC2-800

ModeratorPierre Guislain, General Manager, FIAS World Bank-IFC

SpeakersItzhak Goldberg, Lead Private and Financial Sector Development Specialist, Europe and Central Asia Region, World BankAdam B. Jaffe, Dean of Arts and Sciences and Fred C. Hecht Professor in Economics, Brandeis UniversityHoward Pack, Professor, Wharton School of Business

OrganizersEnrique Blanco, Private and Financial Sector Department, Europe and Central Asia Region, World Bank Itzhak Goldberg, Lead Private and Financial Sector Development Specialist, Europe and Central Asia Region, World Bank

Session Description Innovation plays an important part in productivity and growth. But in providing support for commercial innovation by private enterprises, should governments pursue an industrial policy or aim for “neutrality of intervention”? This session will explore this and other questions relating to effective public support for commercial innovation. It will discuss recent analysis of the role of public interventions in industrial development successes. And drawing on a new World Bank study, it will explore best practice approaches to designing instruments for supporting innovation. This discussion will examine the sequencing and timing of intervention and the risks that state capture and corruption pose to public support of innovation.

Session 2C—Going subnational with business environment reform Why it’s different and how to do it April 4, 11:00–12:30MC4-800

ModeratorMakhtar Diop, Sector Director, Finance, Private Sector, and Infrastructure, Latin America and the Caribbean Region, World Bank

SpeakersParamita Dasgupta, Economist, South Asia Region, World Bank Salama Fahmy, Project Field Manager, Canadian International Development AgencyLuke Haggarty, Program Manager, Business Enabling Environment, Technical Assistance Facility for Latin America and the Caribbean, IFC

OrganizersLuke Haggarty, Program Manager, Business Enabling Environment, Technical Assistance Facility for Latin America and the Caribbean, IFC Andrei Mikhnev, Senior Private Sector Development Specialist, Small and Medium Enterprise Department, World Bank-IFC

Session Description Ever get the feeling that even as your projects are changing national laws and national programs, little is changing on the ground? Want to know how you can engage states and municipalities in implementing key reforms that will immediately make a difference in the business environment? This session will draw on real experiences to shed light on business environment reforms at the subnational level. What approaches were taken to engage subnational administrations? Why were particular reforms designed for the subnational level, and what was the experience of working with these governments? How did the projects attempt to engage stakeholders and ensure sustainability of the reforms—and with what success? Has the outcome of subnational reform been easier to measure? And what have been the impacts?

Session 3A—Private sector development to overcome conflictWhat to do, when, and how to sequence it

April 4, 2:00–3:30 Preston Auditorium

ModeratorSimon Bell, Sector Manager, Finance and Private Sector Development, South Asia Region, World Bank

SpeakersLisa Curtis, Private Sector Development Adviser, U.K. Department for International DevelopmentAnthony Makana, Minister of Trade, Commerce, and Supply, Southern SudanMarc Reichel, ConsultantRichard Stern, Africa Regional Program Coordinator, FIAS World Bank-IFC

OrganizersPablo Halkyard, Private Sector Development Vice Presidency, World Bank-IFCRichard Stern, Africa Regional Program Coordinator, FIAS World Bank-IFC

Session DescriptionHelping conflict-affected countries make a smooth transition to peace is among the most difficult challenges facing the donor community. Donor effectiveness in conflict environments has been disappointing. Addressing private sector development issues earlier in the reform process—before interest groups become too entrenched—and better adapting private sector development strategies to the unique circumstances of conflict could improve results. Effective reforms that encourage entrepreneurship can stimulate the growth and jobs necessary to break conflict allegiances and the conflict cycle. This session will reflect on the experience of the World Bank Group and other donors in conflict-affected countries around the world and describe how the lessons of this experience are now being applied in Liberia and Sudan, both at very early stages of World Bank Group involvement.

Session 3B—Privatization: where does it stand? Business as usual or a new World Bank Group approach to an unfinished agenda?

April 4, 2:00–3:30 MC2-800

ModeratorPierre Guislain, General Manager, FIAS World Bank-IFC

SpeakersSunita Kikeri, Privatization Adviser, Private Sector Development Vice Presidency, World Bank-IFCJohn Nellis, International Analytics and Center for Global DevelopmentBernard E. Sheahan, Director, Advisory Services Department, IFC

Organizer Sunita Kikeri, Privatization Adviser, Private Sector Development Vice Presidency, World Bank-IFC

Session DescriptionHas the political and public backlash against privatization brought it to a grinding halt? No. State-owned enterprises continue to play a dominant economic role in many regions and sectors. The equity, efficiency, and strategic issues of privatization are still hotly debated in such sectors as infrastructure, resources, and finance. Many governments and their publics remain unpersuaded that privatization is in their interests. And in poorer countries it has been difficult to implement, yielding more modest gains than expected. Yet despite all this, privatization appears to be on the rise in recent years, especially in infrastructure and banking services. This session will examine recent global trends and developments in privatization and discuss new insights and thinking about the politics of privatization, particularly in difficult sector and country settings. The focus will be on the implications for future World Bank Group lending, technical assistance, and transactions.

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Session 3C—What are private sector development operations contributing to development?The challenge of measuring development results

April 4, 2:00–3:30 MC4-800

ModeratorRoland Michelitsch, Manager, Development Effectiveness Group, IFC

SpeakersErik Berglöf, Chief Economist and Special Adviser to the President, European Bank for Reconstruction and DevelopmentMichael Klein, Vice President, Private Sector Development, World Bank-IFC, and Chief Economist, IFCCharles O. Sethness, Vice President, Department of Accountability, Millennium Challenge Corporation

OrganizersGeeta Batra, Principal Evaluation Officer, IFCRoland Michelitsch, Manager, Development Effectiveness Group, IFC

Session Description Are we making a difference? Are our interventions cost-effective? These are some of the basic questions the World Bank, IFC, and other development agencies are trying to answer as they seek to improve their monitoring and evaluation capabilities. In the process they face a number of challenges: How to ensure that a culture of measurement is fully inculcated into their work. How to achieve standardization in measures of output, outcome, and impact. How to do this efficiently. How to get more of this information into the public domain so as to create benchmarking. How to use the results. This session will examine these challenges and explore the role that good measurement can play in enhancing competition in the development aid business.

Session 4A—South-South foreign direct investment: current trends, future prospectsWhat they mean for host countries and World Bank Group operations April 4, 4:00–5:30 Preston Auditorium

ModeratorReyaz A. Ahmad, Chief Investment Officer, IFC

SpeakersDilek Aykut, Economist and Foreign Direct Investment Specialist, International Finance Team, Development Prospects Group, World BankStephen Gelb, Executive Director, EDGE Institute Anne Miroux, Head, Investment Issues Analysis Branch, UNCTADAntoine van Agtmael, Founder, President, and Chief Investment Officer, Emerging Markets Management

OrganizerThomas Davenport, Senior Manager, FIAS World Bank-IFC

Session DescriptionSouth-South foreign direct investment (FDI) now accounts for a third of all FDI into developing countries and is growing. Indeed, in some segments and regions—infrastructure in Sub-Saharan Africa—South-South FDI exceeds North-South FDI. What is the significance of this trend? Do South-South investors differ materially from North-South ones? What are their key characteristics, and what do these mean for the host country? Experience suggests that the emergence of Southern investors should on balance be very positive for developing countries. These firms not only diversify the sources of FDI; they also may be better equipped to reach the very poor and to operate in challenging investment climates. But some have caused concerns relating to environmental and other standards. For policymakers in developing countries, understanding and monitoring the dynamics of South-South investment is critical, especially since many characteristics that define it today—source markets, sectors, ownership—may well differ going forward. This session will examine current trends, offer scenarios for the future, and suggest implications for Bank Group operations.

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Session 4B—How to improve governance in state-owned enterprisesApplying lessons learned from corporate governance reforms in the private sector

April 4, 4:00–5:30MC2-800

ModeratorTeresa Barger, Director, Corporate Governance, World Bank-IFC

SpeakersJosé A. Gómez-Ibáñez, Senior Adviser, Infrastructure Vice Presidency, World BankWilliam P. Mako, Lead Private Sector Development Specialist, East Asia and Pacific Region, World BankSimon C. Y. Wong, Strategy Fellow, McKinsey & Company, London

Organizer Alexander Berg, Senior Private Sector Development Specialist, Corporate Governance, World Bank-IFC

Session Description What have we learned from recent reforms to the rules and processes for control of private sector companies? What have we learned about the relationships among the management, the board of directors, the controlling shareholders, minority shareholders, and other stakeholders? And can these lessons be applied to reforming the governance structures of state-owned enterprises? This session will explore the recent development of international corporate governance standards, review the lessons from work done by the World Bank Group and others, and discuss the scope for applying lessons to state-owned enterprises in client countries.

Session 4C—Access to finance for poor people: the formal alternativeWhy the mainstream financial sector is overtaking microcredit specialists and what barriers still hold it back April 4, 4:00–5:30MC4-800

ModeratorElizabeth L. Littlefield, Director and Chief Executive Officer, Consultative Group to Assist the Poor

SpeakersMartin Holtmann, Lead Financial Specialist, Consultative Group to Assist the PoorGautam J. Ivatury, Microfinance Analyst, Consultative Group to Assist the PoorElisabeth Rhyne, Senior Vice President of International Operations for West Africa and India, ACCION International Peer Stein, Head, Financial Infrastructure and Institution Building, Global Financial Markets Department, IFC

OrganizerMatthew Gamser, Principal Financial Officer, Small and Medium Enterprise Department, World Bank-IFC

Session DescriptionMicrofinance has gained wide recognition, but few realize that it is formal sector financial institutions that are bringing in the most new clients among the poor. As foreign direct investment enters local financial markets and returns on government securities decline, formal sector institutions are looking more seriously at smaller clients. But even as they recognize that poor people are good clients, many of the poor remain hard to reach. This session will focus on innovations that are helping to break down barriers to formal financial services—how commercial banks are learning to reach “down” into new, bottom-of-the-pyramid markets, how new technologies are reducing transaction costs so that more people are becoming viable clients, and how credit bureaus provide the mortar necessary over the long term to build and maintain all-inclusive financial markets. The session will also examine the main obstacles to further expanding access for the poor to formal financial services.

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Session 5—How to reform the business environment?Lessons from those who have done it

April 5, 9:00–10:30Preston Auditorium

ModeratorSimeon Djankov, Manager, Doing Business Project, World Bank-IFC

SpeakersPedro Sampaio Malan, Chairman, Board of Directors, Unibanco, and former Minister of Finance, BrazilMahmoud Mohieldin, Minister of Investment, EgyptTarrin Nimmanahaeminda, Chairman, Siam Pithiwat and former Minister of Finance, Thailand

OrganizersSimeon Djankov, Manager, Doing Business Project, World Bank-IFCIva Ilieva-Hamel, Private Sector Development Analyst, World Bank-IFC

Session DescriptionFirms, political parties, and government bureaucracies often have vested interests in maintaining the status quo, and these groups tend to be well organized and able to resist reform efforts. Meanwhile, many beneficiaries of reforms may feel the payoff only in the medium to longer term and are usually too dispersed to matter politically. Moreover, business environment reforms tend to be administratively challenging, requiring coordination across many tiers of government. In the face of vested interests and complexity, how should policymakers get started? What factors can help trigger and sustain successful reforms? How should reforms be sequenced and managed? What role do business environment diagnostics such as those produced by the World Bank Group’s Doing Business Project play in promoting reforms? This session will feature leaders of reform from Brazil, Egypt, and Thailand sharing their insights on these questions.

Session 6A—Latin America and the challenge from ChinaHow governments should support firm competitiveness

April 5, 11:00–12:30Preston Auditorium

ModeratorSusan G. Goldmark, Sector Manager, Finance, Private Sector Development, and Energy, Latin America and the Caribbean Region, World Bank

SpeakersPravin Krishna, Chung Ju Yung Distinguished Professor of International Economics and Business, Johns Hopkins UniversityErnesto López-Córdova, Economist, Inter-American Development BankPedro Sampaio Malan, Chairman, Board of Directors, Unibanco, and former Minister of Finance, Brazil

OrganizersMierta Capaul, Latin America and Caribbean Program Coordinator, FIAS World Bank-IFCPablo Fajnzylber, Senior Economist, Latin America and the Caribbean Region, World Bank

Session Description Many Latin American firms and governments fear competing with China, concerned about losing market share (and jobs) at home and abroad. Others see new opportunities and potential for growth and collaboration, excited by the huge appetite of the Chinese market—especially for the natural resources in which Latin America is so rich—and by the important potential source of foreign investment that China represents. This session will explore what Latin American firms and governments can do to maximize the gains (and manage the losses) from these new opportunities. How can governments support the private sector? What will be the key factors in the battle for competitiveness? Should the response vary across countries and sectors? And how can the World Bank Group help Latin America cope successfully with the challenge from China?

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Session 6B—Chindia surprises Are China and India violating the PSD “dogma”? April 5, 11:00–12:30MC2-800

ModeratorDimitris Tsitsiragos, Director, Global Manufacturing and Services, IFC

SpeakersShantayanan Devarajan, Chief Economist, South Asia Region, World BankYasheng Huang, Associate Professor, MIT Sloan School of ManagementSridhar Ramasubbu, Vice President-Americas, Finance and Investor Relations, Wipro TechnologiesJoerg Wuttke, General Manager, BASF China

OrganizersMark Dutz, Senior Private Sector Development Specialist, South Asia Region, World BankSyed A. Mahmood, Senior Private Sector Development Specialist, South Asia Region, World Bank

Session DescriptionWhy is China continuing to grow as fast as it is despite precarious financial and legal institutions? Why is India growing as fast as it is despite poor infrastructure and high fiscal deficits that squeeze both public and private investments? Do these constraints to private sector–led growth no longer matter in today’s globalized and flatter world? This session will highlight some surprises and provocative thoughts about the development prospects of China and India. It will look at how China and India deviate from orthodoxy and from the prevailing Washington consensus—and how they deviate from each other in constraints to private sector–led growth and in future opportunities. What new lessons do China and India offer each other, and what are the implications for moving forward? And what does all this mean for private sector development staff working in such environments?

Session 6C—Tapping Africa’s export potential beyond commoditiesWhat’s the right mix of economywide and industry-specific reforms? April 5, 11:00–12:30MC4-800

ModeratorJohn Page, Chief Economist, Africa Region, World Bank

SpeakersAlan Gelb, Director, Development Policy, World BankMaggie Kigozi, Executive Director, Uganda Investment Authority

OrganizersFrancois Nankobogo, Senior Operations Officer, Africa Region, World BankVincent Palmade, Lead Economist, FIAS World Bank-IFC

Session Description For Sub-Saharan Africa to achieve strong, sustained growth will require moving beyond exports of commodities to include high value added products and services. The good news: the World Bank’s Enterprise Surveys show that African firms and workers can compete globally when the environment is right, and the growing number of Sub-Saharan countries exporting higher-value goods and services confirms this. This session will discuss how African countries can further exploit their export potential. In tackling investment climate constraints, what balance should governments strike between economywide reforms—which risk leaving out critical industry-specific constraints—and reforms focusing on only a few industries—which may come dangerously close to old-style industrial policies? The session will share key findings from diagnostics and lessons from the growing number of African export successes.

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Session 7A—Better business regulationWhere to start, what to do, what tools to use?

April 5, 2:00–3:30Preston Auditorium

ModeratorRandi Ryterman, Sector Manager, Public Sector Governance, Poverty Reduction and Economic Management, World Bank

SpeakersAli Haddou-Ruiz, Executive Secretary, Federal Competition Commission, MexicoPeter Ladegaard, Senior Investment Policy Officer, FIAS World Bank-IFCAndreja Marusic, Head of the Secretariat, Council for Regulatory Reform, Serbia

Organizer Peter Ladegaard, Senior Investment Policy Officer, FIAS World Bank-IFC Session Description The challenges countries face in reforming business regulation vary, as do the strategies for tackling those challenges. Sometimes the main problem is layers of outdated and excessive regulation; sometimes it’s the quality of new regulation. A range of new tools for building systemic capacities for reform and cutting “red tape” are increasingly being promoted in developing countries, not least by the World Bank Group. But experience with this agenda in developing countries remains limited. This session will present two different approaches to improving regulation: Serbia’s incremental yet comprehensive approach emphasizing institution building and Regulatory Impact Assessment, and Mexico’s big-bang, comprehensive approach involving a radical overhaul of existing regulation and regulatory institutions. The session will take a stab at such questions as these: Is a comprehensive approach required to achieve substantive results? Why establish new institutions promoting regulatory quality? Is there an appropriate sequencing of reforms? What tools can be used—and when and how?

Session 7B—First steps in advocacy: building momentum for reform in poor investment climatesWhat strategies are working, and what is the role for donors?

April 5, 2:00–3:30MC2-800

ModeratorJoseph O’Keefe, Senior Manager, Corporate Relations, IFC

SpeakersBeatriz Boza, Executive Director, Ciudadanos al Día, PeruAhmed Mansur, Director General and Chief Executive Officer, Nigerian Economic Summit GroupFarooq Sobhan, President, Bangladesh Enterprise Institute

OrganizersBenjamin Herzberg, Consultant, Enterprise Analysis Group, Private Sector Development, World Bank-IFCNadine Shamounki Ghannam, Media & Marketing Adviser, Private Sector Development, World Bank-IFC

Session Description Poor investment climates lock out foreign investors, rigidify domestic economies, and impose punishing costs that keep many of the entrepreneurial poor trapped in the informal economy. In some developing countries, for example, the informal sector—untaxed, unregulated, and unprotected by the social safety net of the formal sector—approaches 60 percent of the economy. Yet economic incumbents, political parties, and government bureaucracies often have vested interests in maintaining the status quo. In the face of such barriers, where is it most effective to begin reforms? Which channels of communication are most effective? Which messages are most compelling? Who are the most compelling advocates? Which strategies and tactics win, and which fail? How big a role can cross-country regulatory competition play in supporting these strategies? And how can development institutions help? These are among the questions this session will explore.

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Session 7C—Legal and political empowerment of the poorWhat does it mean, what does it deliver, how to do it better?

April 5, 2:00–3:30 MC4-800

ModeratorMelissa Johns, Private Sector Development Specialist, Doing Business Project, World Bank-IFC

SpeakersSteen Lau Jorgensen, Acting Vice President, Environmentally and Socially Sustainable Development Network, World BankAna Palacio, Chair of Committee, EU Affairs, Spanish Parliament; former Minister of Foreign Affairs, Spain; and Special Adviser to President Wolfowitz on Legal Empowerment, World BankErnesto Schargrodsky, Professor, Universidad Torcuato Di Tella, Argentina

OrganizerMelissa Johns, Private Sector Development Specialist, Doing Business Project, World Bank-IFC

Session Description The World Bank supports empowerment—enabling people to help themselves out of poverty—in several ways. One strand of its work promotes legal empowerment, mainly through property titling, judicial reform, and simplification of business regulation. Another strand promotes public sector responsiveness to the poor through reform of public sector institutions. More recently efforts have focused on giving voice to citizens, such as through community-driven development projects and participatory budgets. What do these approaches deliver? How well do they mesh? This session will explore a more integrated approach and what this might mean for World Bank operations.

Session 8—The cost of corruption and the role of the private sector in fighting itHow can business environment reforms help?

April 5, 4:00–5:30 Preston Auditorium

ModeratorMichael Klein, Vice President, Private Sector Development, World Bank-IFC, and Chief Economist, IFC SpeakersAshraf Ghani, Chancellor, Kabul University, and former Minister of Finance, AfghanistanMohamed Ibrahim, Chairman, Celtel InternationalMahmoud Mohieldin, Minister of Investment, Egypt

Organizers Penelope Brook, Adviser, Private Sector Development Vice Presidency, Office of the Chief Economist, IFCSuzanne Smith, Program Manager, Knowledge Management and Outreach, Private Sector Development, World Bank-IFC

Session Description Much progress has been made against corruption at the country level in recent years, though much more remains to be done. The progress has been slowed by strong resistance from vested interests, by underdeveloped institutions, and by the limited headway in putting into place administrative and legal frameworks that enhance transparency and accountability and remove opportunities for rent seeking. The private sector, as counterparty to bribery transactions, has a big role to play in the fight against corruption. A growing number of enlightened enterprises are demonstrating how playing by the rules can be a winning strategy. This session will examine the challenges in the fight against corruption from three points of view: that of the World Bank, that of senior policymakers in developing countries, and that of the private sector.

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Session 9—Private sector development strategy: where is the World Bank Group business going?What are the new opportunities and challenges, and how to meet them

April 6, 9:00–12:30MC4-800

Keynote SpeakerMichael Klein, Vice President, Private Sector Development, World Bank-IFC, and Chief Economist, IFC

Organizer Penelope Brook, Adviser, Private Sector Development Vice Presidency, Office of the Chief Economist, IFC

Session DescriptionThe PSD Strategy of 2002 put private sector development squarely at the center of the World Bank Group’s objectives of facilitating growth and alleviating poverty. Going on four years into the implementation of the strategy, this session provides an opportunity to pause and consider such questions as these: How can we get the best use out of existing products—for example, what do we need to do to meet the challenges of moving from diagnostics to implementation? How do we improve coordination across World Bank Group units with complementary mandates? What new opportunities and challenges do we face as a PSD practice, and what do we need to do to meet these? The session will draw on responses to the pre-Forum survey of PSD staff, and the findings of Forum sessions, to illuminate key opportunities and challenges.

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Reyaz A. Ahmad is Chief Investment Officer in the International Finance Corporation’s Global Manufacturing and Services Department, where his responsibilities include assisting with the implementation of IFC’s South-South investment strategy and leading the Electronics Sector Team. He has more than 20 years of experience as a finance professional.

Before joining IFC in 1987, Mr. Ahmad served with Warburg Securities, Courtaulds PLC, and the Boston Consulting Group. He has a BA and an MA from Cambridge University and an MBA from INSEAD. After completing his MBA, he did research at INSEAD mapping the success of emerging Japanese multinationals in the ASEAN countries in the 1960s and 1970s.

Dilek Aykut is an Economist and Foreign Direct Investment (FDI) Specialist for the International Finance Team of the World Bank’s Development Prospects Group, which produces the annual flagship publication Global Development Finance. Ms. Aykut conducts research on FDI-related issues including trends, determinants, South-South FDI, and sectoral analysis. She is in regular contact with colleagues working on foreign direct investment in the World Bank and at such institutions as the International Monetary Fund, the Organisation for Economic Co-operation and Development, and UNCTAD.

Her previous experience in the World Bank includes work with the Poverty Reduction and Economic Management (PREM) Trade Department. Ms. Aykut holds a BA in economics from Bogazici University in Istanbul and a PhD in economics from the University of Pittsburgh.

Reyaz A. AhmadChief Investment OfficerInternational Finance Corporation

Dilek AykutEconomist and Foreign Direct Investment SpecialistInternational Finance Team, Development Prospects GroupWorld Bank

Teresa Barger is Director of Corporate Governance for the World Bank and International Finance Corporation. Ms. Barger has been at IFC since 1986, working on the emerging markets of nearly every region while in the Securities Markets Development and the Capital Market Department. From 2000 to 2004 Ms. Barger set up and ran the Private Equity and Investment Funds Department, which manages one of the largest portfolios of emerging market investment funds in the world.

Other work experience includes international development projects with Booz Allen Hamilton and internships at the U.S. Department of the Treasury and at the United Nations Relief and Works Agency for Palestine Refugees in the Near East. Ms. Barger is a member of the Council of Foreign Relations and sits on the boards of the Pacific Pension Institute and the Emerging Markets Private Equity Association, the latter of which she founded. She received her BA from Harvard University and her MBA from Yale University. She also attended the American University in Cairo on a postgraduate fellowship.

Teresa BargerDirector, Corporate GovernanceWorld Bank and International Finance Corporation

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Simon Bell is Sector Manager for finance and private sector issues in the World Bank’s South Asia Region. Prior to working in South Asia, he spent eight years working in Africa on financial sector issues, when he was also the World Bank’s economist in Maputo. Prior to joining the World Bank, he worked at the Bank of Botswana and at the Finance Ministry of Papua New Guinea.

Erik Berglöf is Chief Economist and Special Adviser to the President at the European Bank for Reconstruction and Development. From 2000 to 2005 Mr. Berglöf held the position of Director of the Stockholm Institute of Transition Economics (SITE) and Professor at the Stockholm School of Economics. He was previously an Assistant Professor at the Université Libre de Bruxelles and has held visiting positions at Harvard, Stanford, and MIT.

Mr. Berglöf is a widely published and internationally respected specialist in the field of transition economics. His focus has been on policy-related issues in transition economies, and he has regularly provided advice to national governments and international institutions including the International Monetary Fund and the World Bank. Mr. Berglöf was the founder and President of the Centre for Economic and Financial Research (CEFIR) in Moscow and a Program Director at the Centre for Economic Policy Research (CEPR) in London. He was educated at the Stockholm School of Economics.

Erik Berglöf Chief Economist and Special Adviser to the PresidentEuropean Bank for Reconstruction and Development

Simon BellSector Manager, Finance and Private Sector Development South Asia Region, World Bank

Beatriz Boza is Executive Director of Ciudadanos al Día, a Peruvian NGO dedicated to promoting transparency and efficiency in governance. From 1993 to 1996 she headed the advisory council of the Peruvian Ministry of Economy and Finance, where she worked to increase fiscal and economic transparency. From then until 2000 she served as President of Indecopi and of PromPerú. Beatriz Boza is admitted to the practice of law in Peru and in New York. She worked with the law firm Shearman & Sterling in New York and with Curtis, Mallet-Prevost, Colt & Mosle. She holds degrees from Pontificia Universidad Católica del Perú and the Universidad de Piura as well as a master’s degree in law from Yale University.

Beatriz BozaExecutive DirectorCiudadanos al Día, Peru

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Lisa Curtis is the U.K. Department for International Development’s private sector development adviser in Sierra Leone. Before taking this position, Ms. Curtis worked for 19 years in strategy consulting for a wide range of public and private sector clients. She combines financial, microeconomics, and organization restructuring skills. She has advised on business restructuring, corporate strategy, institutional reform, corporate governance, mergers and acquisitions, and numerous privatizations.

Ms. Curtis has worked in many countries at all stages of development, including three years leading a successful regional privatization consulting business unit in East Africa; working extensively in Mexico in both government and private sectors; and working on business strategy for leading corporate clients in Europe and North America. Her sectoral experience covers the main infrastructure sectors, private manufacturing, and agribusiness as well as central government, state-owned enterprises, and the social sector (health and population).

Paramita Dasgupta is an Economist in the World Bank’s resident mission in India. During the past six years she has worked on and managed various analytical and operational tasks, including subnational economic and fiscal reports (Maharashtra and Karnataka), as well as the preparation of various subnational adjustment loans (Karnataka and Orissa). She has written policy notes in the areas of enterprise reform and business deregulation. Her core areas of specialization in the World Bank are private sector development issues and pension reform.

Before joining the World Bank in 1999, Ms. Dasgupta was a macroeconomist for the leading investment bank in India, Kotak Mahindra–Goldman Sachs. She was also a member of the team that launched the monthly money market reviews in the social science journal Economic and Political Weekly during her stint in the journal’s research unit (1994–96). Ms. Dasgupta holds a master’s degree in international business and economics from the University of Reading (United Kingdom).

Paramita DasguptaEconomist South Asia RegionWorld Bank

Lisa CurtisPrivate Sector Development AdviserU.K. Department for International Development

Shantayanan Devarajan is Chief Economist of the World Bank’s South Asia Region and Editor of the World Bank Research Observer. He was Director of World Development Report 2004: Making Services Work for Poor People. Since joining the World Bank in 1991, he has been a Principal Economist and Research Manager for Public Economics in the Development Research Group as well as Chief Economist of the Human Development Network.

Before 1991 Mr. Devarajan was on the faculty of Harvard University’s John F. Kennedy School of Government. The author or coauthor of more than 100 publications, Mr. Devarajan has conducted research covering public economics, trade policy, natural resources and the environment, and general equilibrium modeling of developing countries. Born in Sri Lanka, Mr. Devarajan received his AB in mathematics from Princeton University and his PhD in economics from the University of California, Berkeley.

Shantayanan DevarajanChief EconomistSouth Asia RegionWorld Bank

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Makhtar Diop, a Senegalese national, is Sector Director for Finance, Private Sector, and Infrastructure in the World Bank’s Latin America and the Caribbean Region. Before his current role Mr. Diop was Country Director for Kenya, Eritrea, and Somalia.

Before joining the World Bank, Mr. Diop held various positions in banking and finance, including at the International Monetary Fund, and served as Minister of Economy and Finance in Senegal. Mr. Diop is a graduate in economics from the Universities of Warwick and Nottingham (United Kingdom). He also holds a master’s degree in finance from Ecole Supérieure des Sciences Commerciales Appliquées, Paris.

Simeon Djankov is Manager of the Monitoring and Analysis Unit in the World Bank-IFC’s Private Sector Development Vice Presidency, where he leads the Doing Business Project. Since joining the World Bank in 1995, he has been involved in privatization and enterprise restructuring projects in Belarus, Bulgaria, the Czech Republic, Georgia, Kazakhstan, the Kyrgyz Republic, Moldova, Romania, Russia, and the Slovak Republic. More recently he has worked on corporate financing and corporate governance in East Asia and on improving the environment for doing business around the world.

Mr. Djankov was a principal author of World Development Report 2002: Building Institutions for Markets. He has published in numerous journals, including the Quarterly Journal of Economics, Journal of Finance, Journal of Financial Economics, Journal of Public Economics, and Journal of Comparative Economics. Research interests include the microeconomics of transition, barriers to business entry, corporate governance and ownership structures, and international trade. Mr. Djankov holds a PhD in economics from the University of Michigan, Ann Arbor.

Simeon DjankovManager, Monitoring and Analysis Private Sector Development Vice PresidencyWorld Bank and International Finance Corporation

Makhtar DiopSector Director, Finance, Private Sector, and InfrastructureLatin America and the Caribbean RegionWorld Bank

Salama Fahmy is Project Field Manager and Team Leader of the Business Development Services Support Project in Egypt, funded by the Canadian International Development Agency (CIDA). The project’s purpose is to enhance the small and medium-size enterprise sector in two governorates of focus (Alexandria and Minia) by supporting and integrating existing and new business development service providers and other related local institutions. Previously Mr. Fahmy was Project Field Director on a major CIDA Small and Medium Business Support Project in Egypt.

From 1976 to 1996 Mr. Fahmy worked with the International Development Research Centre, where he directed the Technology for Local Enterprises Program and subsequently the Small and Medium Enterprise Program covering Africa, the Middle East, and Latin America. In 1987 he directed a program to support projects developing and applying new technologies to solve profitability and competitiveness problems of small and medium-size enterprises in developing countries. By the early 1990s he was responsible for designing and implementing a series of National Industrial Support Units in Central America.

Salama FahmyProject Field Manager Canadian International Development Agency

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Thomas L. Friedman, a world-renowned author and journalist, joined the New York Times in 1981 as a financial reporter specializing in OPEC- and oil-related news and later served as the chief diplomatic, chief White House, and international economics correspondents. A three-time Pulitzer Prize winner, he has traveled hundreds of thousands of miles reporting the Middle East conflict, the end of the cold war, U.S. domestic politics and foreign policy, international economics, and the worldwide impact of the terrorist threat. His foreign affairs column, which appears twice a week in the Times, is syndicated to 700 other newspapers worldwide. In 2004 he was awarded the Overseas Press Club Award for lifetime achievement and the honorary title Order of the British Empire by Queen Elizabeth II.

Mr. Friedman’s most recent book is The World Is Flat: A Brief History of the 21st Century, published in April 2005. He is also the author of From Beirut to Jerusalem (1989), The Lexus and the Olive Tree (1999), and Longitudes and Attitudes: Exploring the World after September 11 (2002). Mr. Friedman graduated summa cum laude from Brandeis University with a degree in Mediterranean studies and received a master’s degree in modern Middle East studies from Oxford University.

As Director of Development Policy, Alan Gelb provides policy advice to the Chief Economist and guides provision of research and analytical services in the World Bank’s Development Economics and Chief Economist group. Until assuming his current position in July 2004, Mr. Gelb was Chief Economist of the World Bank’s Africa Region. Before that he acted as staff director of World Development Report 1996: From Plan to Market and chief of the transition division in the World Bank’s Policy Research Department.

Mr. Gelb is a specialist on transition economies, financial systems, macroeconomic management, commodity prices, and the economics and political economy of oil-exporting countries. He has published several books and scholarly articles on these and related subjects, and he coauthored Can Africa Claim the 21st Century?, an authoritative study on African development. He holds a master’s and a PhD from Oxford University.

Alan GelbDirector, Development PolicyWorld Bank

Thomas L. FriedmanColumnistNew York Times

Stephen Gelb is Executive Director of the EDGE Institute, a think tank in Johannesburg. He started his career as an activist in the Canadian anti-apartheid movement between 1976 and 1984. Upon his return to South Africa in 1984 he advised COSATU, the South African Council of Churches, and the UDG on economic policy issues until 1990. Mr. Gelb then worked as an adviser to the African National Congress government during the early 1990s. He has been a consultant to a number of South African government departments and agencies, including the Treasury, the Department of Trade & Industry, the Office of the Deputy President, and the National Economic Development and Labour Council. He worked with the Office of the President from 1999, as leader of a major study of domestic fixed investment in South Africa, and was research coordinator in the government’s MAP Technical Team between November 2000 and July 2001.

He has taught at various universities, including York University (Toronto), The New School for Social Research (New York), the University of Durban-Westville, KZN, and currently the University of the Witwatersrand, where he is Visiting Professor in Development Studies. Mr. Gelb also spent more than four years at the Development Bank of Southern Africa.

Stephen GelbExecutive Director EDGE Institute

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Ashraf Ghani is currently Chancellor of Kabul University. He served as Afghanistan’s Finance Minister from 2002 to 2004. He implemented a wide-ranging series of monetary and fiscal reforms, earning the Asia’s Best Finance Minister of the Year Award in 2003. In October 2001 he became Special Adviser to the UN Secretary General’s Special Representative for Afghanistan, Lakhdar Brahimi. Before assuming his current post, Mr. Ghani spent several years as lead anthropologist at the World Bank.

Mr. Ghani has served on the faculty of Kabul University, Aarhus University (Denmark), University of California, Berkeley, and Johns Hopkins University. The main focus of his academic research has been on social theory and the political economy of state formation and religion. His work on Afghanistan encompasses the period from 1747 to the present. Mr. Ghani studied political science at the American University of Beirut and earned a PhD in international affairs and anthropology at Columbia University.

At the World Bank since 1990, Mr. Goldberg joined the Financial Sector Development Unit in the Europe and Central Asia Region in 1997. There he has been in charge of private sector development programs in various countries in the region and was pivotal in the design and implementation of the privatization program of the government of Serbia. More recently he has devoted his attention to the economics of innovation and technology upgrading. In 2004 he managed the Knowledge Economy Assessment in Poland. Mr. Goldberg has published extensively in the fields of the business environment and its impact on productivity and privatization.

Mr. Goldberg obtained his PhD from the University of Chicago in 1976, after studying economics at the Hebrew University of Jerusalem. Before joining the World Bank, he was Head of the Economics Department at Dead Sea Works Ltd. and Adjunct Professor of Economics at Ben Gurion University in Israel. He also worked as a Research Fellow at the Hoover Institution in the United States in the late 1970s.

Itzhak GoldbergLead Private and Financial Sector Development SpecialistEurope and Central Asia RegionWorld Bank

Ashraf GhaniChancellorKabul University

Susan Goldmark is Sector Manager for Finance, Private Sector Development, and Energy in the Latin America and the Caribbean Region of the World Bank. Her private sector development activities include policy loans to support competitiveness activities in Brazil, Colombia, and Mexico; investment loans to promote innovation, exports, and capacity building in numerous countries; and an infrastructure guarantee facility in Peru. Before becoming a sector manager in 2000, she was Sector Leader for Private Sector Development, Finance, and Infrastructure for Peru, Bolivia, and Paraguay. Ms. Goldmark also worked in the Africa Region of the World Bank on public enterprise reform issues for several years.

Before joining the World Bank, Ms. Goldmark worked as a manager in a consulting firm on development issues, leading teams to 30 countries in Asia, the Middle East, and Africa. She also served as the evaluations officer of a private nonprofit organization dedicated to enterprise development and worked as a freelance photojournalist in the Middle East and South Asia. She holds a master’s degree in development economics from the Woodrow Wilson School, Princeton University.

Susan G. GoldmarkSector Manager, Finance, Private Sector Development, and Energy Latin America and the Caribbean RegionWorld Bank

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José Gómez-Ibáñez is the Derek C. Bok Professor of Public Policy and Urban Planning with a joint appointment at Harvard University’s John F. Kennedy School of Government and Graduate School of Design. He teaches courses in economics and transportation policy and cochairs the Infrastructure in a Market Economy executive program at the Kennedy School. His research interests are in transportation and other forms of infrastructure, including the role of the private sector in providing infrastructure and the effects of infrastructure on urban and economic development. On sabbatical leave, Mr. Gómez-Ibáñez is currently Senior Adviser to the Infrastructure Vice Presidency at the World Bank.

Mr. Gómez-Ibáñez received his AB in government from Harvard College and his MPP and PhD in public policy from Harvard University. His latest book, Regulating Infrastructure: Monopoly, Contracts and Discretion, was published by Harvard University Press in 2003. Previous books include Essays in Transportation Economics and Policy: A Handbook in Honor of John R. Meyer (with William Tye and Clifford Winston, 1999); Going Private: The International Experience with Transport Privatization (with John R. Meyer, 1993); Regulation for Revenue: The Political Economy of Land Use Exactions (with Alan Altshuler, 1993); Cases in Microeconomics (with Joseph Kalt, 1990); and Autos, Transit and Cities (with John R. Meyer, 1981).

Pierre Guislain, a Belgian national, is General Manager of FIAS World Bank-IFC. Mr. Guislain joined the World Bank in 1983 and worked successively in the West Africa Projects Department, the Legal Department, the Asia Technical Department, the Private Sector Advisory Services Department, and the Information and Communication Technologies Policy Division. From 1997 to 2001 he was based in Brussels, where he managed a joint program of the World Bank and the European Commission on Private Participation in Mediterranean Infrastructure.

Mr. Guislain is the author or editor of several publications on information and communication technology (ICT), infrastructure sector reform, and privatization, including ICT & Development: Enabling the Information Society, a December 2003 compilation prepared for the World Summit on the Information Society, and The Privatization Challenge, a 1997 World Bank book on the strategic, legal, and institutional aspects of privatization. Over the past 15 years he has advised many governments on infrastructure and telecommunications sector reform, with an emphasis on issues of market structure, competition, regulation, and privatization. Mr. Guislain holds an MPA in economics and public policy from Princeton University and a graduate law degree from the University of Louvain.

Pierre GuislainGeneral ManagerFIAS World Bank-IFC

José A. Gómez-IbáñezSenior AdviserInfrastructure Vice Presidency World Bank

Mr. Haddou-Ruiz joined Mexico’s Federal Competition Commission in 2005, where he is currently Executive Secretary.

Ali Haddou-Ruiz holds a bachelor’s degree in industrial engineering from the Columbia University School of Engineering and Applied Science and a master’s degree from the Center for International Science and Technology Policy of George Washington University.

From 1996 to 2000 Mr. Haddou-Ruiz was adviser to the Head of the Economic Deregulation Unit of SECOFI. He later occupied the post of Coordinator General of Regulatory Impact Analysis at the Federal Regulatory Improvement Commission (Cofemer), from 2000 to 2004. In his work on regulatory reform he participated in the drafting of administrative procedures and freedom of information legislation, in the creation of a Federal Register of Formalities and Services, and in the review of federal regulations in the transportation, energy, telecommunications, and environmental sectors, and was a member of the OECD’s regulatory reform bureau. He has also participated in consulting projects with APEC, the World Bank, and Mexico’s Centro de Investigación y Docencia Económicas, and with the governments of Costa Rica, the Republic of Korea, and Uruguay.

Ali Haddou-RuizExecutive SecretaryFederal Competition Commission Mexico

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Luke Haggarty is Program Manager for the Business Enabling Environment Program of the International Finance Corporation’s Technical Assistance Facility for Latin America and the Caribbean. The program is currently focused on simplification of business regulation at the municipal level and is operating in eight countries across the region.

Before joining IFC, Mr. Haggarty was a Senior Economist in the Private Sector Development group in the World Bank’s Latin America and the Caribbean Region, where he focused on issues connected to improvements in the investment climate across Latin America. Before moving to the Latin America and the Caribbean Region, Mr. Haggarty worked in the Development Economics Research Group of the World Bank. Over the past decade he has worked on issues concerning reform of state-owned enterprises, privatization, regulation of infrastructure, and private sector development in Latin America, Eastern Europe, and Africa.

Keith Hart lives with his family in Paris and teaches anthropology part-time at the University of London. He has taught in a dozen universities around the world, for the longest time at Cambridge, where he was Director of the African Studies Centre. He contributed the concept of the informal economy to development studies, based on his doctoral research in Ghana in the 1960s. He has also worked in the Caribbean and more recently in South Africa.

Mr. Hart’s main current research project is his website, www.thememorybank.co.uk, an experiment in participatory online publishing. He is the author of Money in an Unequal World (2001), A New Approach to Rural Development in Europe (with John Bryden, 2004), and The Hit Man’s Dilemma: or Business, Personal and Impersonal (2005). Mr. Hart holds a BA and PhD in social anthropology from the University of Cambridge.

Keith HartGoldsmiths College, London

Luke HaggartyProgram Manager, Business Enabling EnvironmentTechnical Assistance Facility for Latin America and the Caribbean International Finance Corporation

Martin Holtmann is Lead Financial Specialist at the Consultative Group to Assist the Poor (CGAP), where he manages CGAP’s cooperation with commercial banks. Mr. Holtmann started his career in commercial banking and management consulting. For 12 years he worked as a staff member and Managing Director of IPC, a firm specializing in microfinance consulting and management services for microfinance banks. He was the Moscow-based manager of the European Bank for Reconstruction and Development’s Russia Small Business Fund and helped in the design and implementation of several bank downscaling programs and greenfield banks.

Mr. Holtmann has taught finance and personnel economics at the University of Trier (Germany) and is a faculty member of the Boulder Microfinance Training Program. He is the author of several publications on microfinance and the design of staff incentive schemes. Mr. Holtmann attended L.B. Pearson College in Victoria, British Columbia, and received master’s degrees from the University of Trier (economics) and Harvard University (public administration).

Martin HoltmannLead Financial SpecialistConsultative Group to Assist the Poor

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Yasheng Huang is an associate professor in the area of international management at the MIT Sloan School of Management. He joined MIT in 2003. His previous appointmentsinclude assistant professor at the University of Michigan, associate professor at Harvard University, and consultant to the World Bank. Mr. Huang’s research focuses on international business, political economy, and institutional issues.

Mr. Huang’s most recent book is Selling China (2003), which examines the institutional drivers of foreign direct investment (FDI) in China. He has also written Inflation and Investment Controls in China (1996) and FDI in China (1998). Mr. Huang is extending his analysis of foreign direct investment to other countries by analyzing the institutional environment for local firms and entrepreneurship. He is currently working on projects on private sector development in China and in India and is writing several papers on the institutional determinants of foreign ownership and foreign direct investment. He received his BA and PhD in government from Harvard University.

Mohamed Ibrahim is Chairman of Celtel International B.V. He is an acknowledged global expert in mobile communications with a distinguished academic and business career. He founded MSI (Metapath Software Inc.) in 1989 after six years with Cellnet, as Technical Director. This company grew into one of the largest independent consultancy and software operations in the cellular industry, with revenue of $130 million and 17 offices worldwide. Metapath was sold in June 2000 for $900 million. Mr. Ibrahim founded MSI Cellular Investments in 1998 (renamed Celtel International B.V.). The company operates cellular networks in 14 African countries and has 8.5 million customers and revenue of $1 billion. In May 2005 the company was sold to the Kuwaiti mobile operator MTC for $3.4 billion.

Mr. Ibrahim holds a BSc in electrical engineering from the University of Alexandria (Egypt), an MSc in electronics and electrical engineering from the University of Bradford (United Kingdom), and a PhD in mobile communications from the University of Birmingham. He is a member of the Africa Regional Advisory Board of the London Business School and the International Advisory Board of the School of Oriental and African Studies (SOAS). Mr. Ibrahim is of Nubian (Sudanese) origin.

Mohamed IbrahimChairmanCeltel International

Yasheng HuangAssociate Professor of International ManagementMIT Sloan School of Management

Guatam Ivatury manages the Microfinance Technology Program at the Consultative Group to Assist the Poor (CGAP) and works on issues related to investment in microfinance, linkages between microfinance institutions and commercial banks, and several of CGAP’s initiatives in India. He recently coauthored CGAP Focus Note 25, “Foreign Investment in Microfinance: Debt and Equity from Quasi-Commercial Investors.”

Before joining CGAP, Mr. Ivatury was Vice President of Finance and Administration at SKS Microfinance. Before that he was an Investment Analyst at the International Finance Corporation, cofounded a start-up education technology venture, and worked as an investment banker at Donaldson, Lufkin & Jenrette (now Credit Suisse First Boston). He holds an MA and a BA in international affairs from Johns Hopkins University.

Guatam J. IvaturyMicrofinance AnalystConsultative Group to Assist the Poor

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In April 2006 Steen Lau Jorgensen became the new acting Vice President of the Environmentally and Socially Sustainable Development Network at the World Bank. During his 20 years at the World Bank he has acted as Country Economist and Country Officer for Bolivia and spent five years working on health, education, and poverty issues in southern Africa. In 1995 he joined the Office of the Vice President, Africa Region, as acting Chief Administrative Officer and Change Management Adviser. In April 1997 he joined the Social Protection team in the Human Development Network.

He is coauthor of two strategy papers, “Empowering People by Transforming Institutions: Social Development in World Bank Organizations” and “Social Protection Sector Strategy from Safety Net to Springboard.” Before joining the Bank, he taught microeconomics at the University of Aarhus (Denmark) and consulted in (among other countries) Czechoslovakia, for the Ministry of Agriculture. Mr. Jorgensen holds the equivalent of a PhD in economics from the University of Aarhus.

Steen Lau JorgensenActing Vice President Environmentally and Socially Sustainable Development Network World Bank

Adam B. Jaffe has been Dean of Arts and Sciences and Fred C. Hecht Professor in Economics at Brandeis University since 1993. As project coordinator of the National Bureau of Economic Research project on industrial technology and productivity from 1994 to 1999, he co-organized the Innovation Policy and Economy Group. Before joining Brandeis University, he was first Assistant Professor and then Associate Professor of Economics at Harvard University (1985–94). Mr. Jaffe’s research interests have recently focused on the patterns of flow of technological and scientific knowledge across organizations, the interaction of technological change with environmental policy, and the evaluation of public programs designed to spur technological advance.

Mr. Jaffe obtained his PhD from Harvard University in 1985 and his master’s and SB from the Massachusetts Institute of Technology. He is associate editor, referee or reviewer, or member of the board of editors for several journals. Among books and articles he has published are “Building Programme Evaluation into the Design of Public Research-Support Programmes,” Oxford Review of Economic Policy (2002), and Innovation and Its Discontents (with J. Lerner, Princeton University Press, 2004).

Melissa Johns is a Private Sector Development Specialist with the joint World Bank–International Finance Corporation Doing Business team. Before joining the World Bank in 2004, Ms. Johns practiced law with Cleary, Gottlieb, Steen & Hamilton in its Washington office, specializing in securities and corporate law.

Ms. Johns has also served with the U.S. Peace Corps in southern Honduras, focusing on construction of potable water systems, and in its Washington headquarters. Ms. Johns holds a Juris Doctorate from Stanford University and a BA in public policy studies from Duke University.

Melissa JohnsPrivate Sector Development SpecialistWorld Bank and International Finance Corporation

Adam B. JaffeDean of Arts and Sciences and Fred C. Hecht Professor in EconomicsFaculty of Arts and SciencesBrandeis University

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Cho Khong is Chief Political Analyst with the Shell scenario team. He is responsible for Shell’s country risk work, advises on political trends, and was a member of the teams that developed the 1995, 1998, 2001, and 2004 sets of Global Scenarios. He tracks politics and international relations and is particularly interested in issues of political development in Asia and the Middle East.

Mr. Khong has also worked with a range of governments, universities, research institutes, and other companies. He serves on the Advisory Board of Warwick University’s Centre for the Study of Globalization and Regionalization. He has taught politics and international relations at the University of Bath (England) and the National University of Singapore. He was also Senior Economist at the Commonwealth Secretariat in London and held a research position at Cambridge University. Mr. Khong graduated from the University of Singapore and received his MS and PhD from the London School of Economics.

Cho KhongChief Political AnalystShell International

Dr. Maggie Kigozi is a medical doctor. She practiced in Uganda, Zambia, and Kenya. In 1999 she was appointed Executive Director of the Uganda Investment Authority, the government body that promotes and facilitates investments in Uganda. Both foreign and domestic investments have continued to increase, and the Uganda Investment Authority won the Corporate Location Prize for the best investment promotion agency in Africa and the Middle East in 2001.

Dr. Kigozi is Chancellor, Nkumba University. She is Patron, Uganda Change Agents and Junior Chamber International. She is a Director of the Uganda Export Promotion Board, Enterprise Uganda, and Crown Beverages Limited. She is Chief Commissioner, Uganda Scouts Association. Dr. Kigozi is Managing Director of the American and African Business Women’s Alliance (AABWA), Trustee of the Uganda Local Authorities Association, and a member of the UN Task Force on ICT, the OECD African Investment Promotion Initiative, Focal Point–East Africa for Commonwealth Business Women’s Network (CBWN), and the UNCTAD-ICC Business Advisory Council. She is also a member of the Steering Committee of the Africa-Asia Business Council.

Dr. Maggie KigoziExecutive DirectorUganda Investment Authority

Sunita Kikeri is an adviser on privatization in the Private Sector Development Vice Presidency of the World Bank-IFC. Over the past 15 years she has worked on privatization policy in countries around the world. She has published widely in the field of privatization, including a coauthored article in the spring 2004 issue of the World Bank Research Observer on the impact of privatization and a donor-funded Toolkit on Labor Issues in Infrastructure Privatization based on cross-sectoral and regional experiences.

Ms. Kikeri’s recent work focuses on managing investment climate reform processes, including the link between privatization and investment climate reforms. She holds a BA and PhD in sociology from the University of Massachusetts, Amherst.

Sunita KikeriPrivatization AdviserPrivate Sector Development Vice PresidencyWorld Bank and International Finance Corporation

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Michael Klein is Vice President for Private Sector Development jointly for the World Bank and the International Finance Corporation as well as Chief Economist, IFC. Before this he was Director of the joint Bank-IFC Private Sector Advisory Services Department covering advice on investment climate, corporate governance, corporate social responsibility, privatization transactions, and foreign investment. He was Chief Economist of the Royal Dutch/Shell Group (1997–2000), where he advised on worldwide economic developments and industry issues.

Mr. Klein joined the World Bank in 1982 as an economist on oil and gas projects, trade and industrial policy, financial sector reform, and macroeconomic analysis. In 1991 he became head of the unit for non-OECD economies in the Economics Department of the Organisation for Economic Co-operation and Development. In 1993 he rejoined the World Bank and became Senior Manager, Private Participation in Infrastructure, focusing on issues of market structure, regulation, privatization, and project finance in the telecommunications, transport, energy, and water sectors. Before joining the World Bank, Mr. Klein was active in Amnesty International since 1974 and served on its German Board (1977–79) and International Executive Committee (1979–82). Mr. Klein studied in Bonn, New Haven, and Paris and received his doctorate in economics from the University of Bonn.

Pravin Krishna is Chung Ju Yung Distinguished Professor of International Economics and Business at Johns Hopkins University and Faculty Research Fellow at the National Bureau of Economic Research. His areas of research interest and specialization include international economics, development economics, and political economy. Mr. Krishna has held prior academic appointments at Brown University, the University of Chicago, Princeton University, and Stanford University and has served as a consultant to the World Bank, the International Monetary Fund, and the International Task Force on Global Public Goods.

Mr. Krishna’s theoretical and empirical research has been published in leading journals in economics such as the Journal of Political Economy, the Quarterly Journal of Economics, and the Journal of International Economics. Recent publications include Trade Blocs: Economics and Politics (Cambridge University Press, 2005) and Trading Blocs: Alternative Approaches to Analyzing Preferential Trade Agreements (with Jagdish Bhagwati and Arvind Panagariya, MIT Press, 1999). Mr. Krishna holds a bachelor’s degree in engineering from the Indian Institute of Technology, Mumbai, and a PhD in economics from Columbia University.

Peter Ladegaard is a Senior Investment Policy Officer in FIAS World Bank-IFC. In FIAS Mr. Ladegaard advises developing countries on how to streamline and reduce regulatory barriers and how to build systemic capacities for better business regulation.

Before joining FIAS in April 2005, Mr. Ladegaard worked for the Organisation for Economic Co-operation and Development’s (OECD) Regulatory Reform Program. At the OECD he coordinated and drafted comparative studies on regulatory governance, administrative simplification, measurement of red tape, institutional design of sectoral regulators, and evaluation of regulatory policies. He was the main author of a series of reports assessing government capacities to produce high-quality regulation. Before the OECD Mr. Ladegaard worked in private consulting and for the Danish Ministry of Finance. He holds an MA in political science.

Michael KleinVice President, Private Sector Development, World Bank and International Finance Corporation Chief Economist, International Finance Corporation

Peter LadegaardSenior Investment Policy Officer FIAS World Bank-IFC

Pravin Krishna Chung Ju Yung Distinguished Professor of International Economics and Business Johns Hopkins University

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Elizabeth Littlefield is Director and Chief Executive Officer of the Consultative Group to Assist the Poor (CGAP). Before joining CGAP in 1999, Ms. Littlefield was Managing Director in charge of J.P. Morgan’s financing business in Central, Eastern, and Southern Europe, Central Asia, the Middle East, and Africa. She also held positions at J.P. Morgan as a Vice President and head debt trader in Africa, Eastern Europe, and Asia and as a Director in J.P. Morgan’s Paris office, among others.

Parallel to her career in investment banking, Ms. Littlefield also spent 1989–90 providing banking consultancy to several microfinance institutions in West and Central Africa and in Pakistan. She has served on the executive board of several organizations, including Women’s World Banking, Profund, and Africa International Financial Holdings. Ms. Littlefield helped found several nonprofit organizations, including one that linked European food banks and homeless shelters and the Emerging Market Charity in the United Kingdom.

Ernesto López-Córdova has been with the Integration, Trade, and Hemispheric Issues Division of the Inter-American Development Bank since 2000. His work focuses on the impact of economic integration on Latin America and the Caribbean and, most recently, on the development implications of migrant remittances. From 1992 to 1995 he worked in Mexico’s Ministry of Trade and Industry and participated actively in the negotiation of several regional free trade agreements. Mr. López-Córdova holds a PhD in economics from the University of California, Berkeley, as well as a master’s in city planning and a bachelor of science in economics from the Massachusetts Institute of Technology. His recent publications include “International Remittances and Development: Existing Evidence, Policies and Recommendations’’ (coauthor, forthcoming); “Globalization, Migration, and Development: The Role of Mexican Migrant Remittances” (Economía, forthcoming); “The Globalization of Trade and Democracy, 1870–2000” (coauthor, NBER Working Paper 11117, February 2005); Regional Integration and Productivity: The Experiences of Brazil and Mexico (coauthor, Harvard University Press, 2004); “NAFTA and Manufacturing Productivity in Mexico” (Economía, fall 2003); and “Exchange-Rate Regimes and International Trade: Evidence from the Classical Gold Standard Era” (coauthor, American Economic Review, March 2003).

Elizabeth L. LittlefieldDirector and Chief Executive OfficerConsultative Group to Assist the Poor

Ernesto López-CórdovaEconomistIntegration, Trade, and Hemispheric Issues DivisionInter-American Development Bank

Resident in the World Bank’s Beijing office since 2002, William Mako has advised Chinese counterparts on state-owned enterprise reform, and central and local governments on investment climate issues in Northeast and Southwest China. During 1998–2001 Mr. Mako advised authorities in Indonesia, the Republic of Korea, Serbia, Thailand, and Turkey on corporate restructuring issues and negotiated corporate restructuring conditions for three adjustment loans totaling $3 billion. Mr. Mako’s experience providing corporate sector analyses to financial sector assessments of Argentina and Korea is summarized in “Emerging Market and Crisis Applications for Out-of-Court Workouts: Lessons from East Asia, 1998–2001,” in Corporate Restructuring: Lessons from Experience (World Bank, 2005).

Before joining the World Bank in 1997, Mr. Mako spent 13 years in consulting with Price Waterhouse. During 1991–97 he managed large donor-funded privatization and capital markets projects in Bosnia and Herzegovina, Croatia, Czechoslovakia, Moldova, Russia, and Ukraine. Earlier, domestic experience included work on various bankruptcy cases. Mr. Mako has a master’s in public and private management from Yale University and a BS in foreign service from Georgetown University. He was a Conference Board fellow on the U.S. House of Representatives Budget Committee staff in 1989 and is a member of the Council on Foreign Relations.

William P. MakoLead Private Sector Development SpecialistEast Asia and Pacific RegionWorld Bank

32

Pedro Sampaio Malan became Chairman of Unibanco’s board of directors in May 2004, having served as Vice Chairman since May 2003. Before that he was Brazil’s Minister of Finance from 1995 to 2002, President of the Brazilian Central Bank from 1993 to 1994, and Chief External Debt Negotiator for the Brazilian Ministry of Finance from 1991 to 1993. Mr. Malan also served as Executive Director of the World Bank from 1986 to 1990 and from 1992 to 1993, and of the Inter-American Development Bank from 1990 to 1992.

Earlier in his career Mr. Malan was Director of the United Nations Centre on Transnational Corporations and of the United Nations Department of International Economic and Social Affairs in New York. Mr. Malan graduated in 1965 from the Polytechnic School of the Catholic University of Rio de Janeiro (Pontifícia Universidade Católica). He has a PhD in economics from the University of California, Berkeley. Mr. Malan has published dozens of essays and articles in economics journals and books, both in Brazil and abroad.

William F. Maloney is Lead Economist for the Office of the Chief Economist in the World Bank’s Latin America and the Caribbean Region. Before joining the Bank permanently, he was a professor of international and development economics at the University of Illinois, Urbana-Champaign, from 1990 to 1997. He also served as a consultant for the World Bank on Mexico and Nigeria. Earlier in his career Mr. Maloney was a consultant for Harvard University’s Kennedy School of Government.

Mr. Maloney has published on issues relating to international trade, the impact and sequencing of liberalization, speculative attacks on currencies, and developing country labor markets. He received a BA from Harvard University and then studied at the University of the Andes in Bogota, Colombia, before attending the University of California, Berkeley, for his PhD in economics.

Ahmed Mansur is Director General and Chief Executive Officer of the Nigerian Economic Summit Group (NESG), a position he assumed in January 2004. He had been involved in the activities of the NESG as one of its public sector collaborators since the inception of the Nigerian Economic Summit in 1993. During his career Mr. Mansur has worked in the Nigerian textile and petroleum industries. Among other positions, he has been Executive Director of the New Nigerian Development Company Limited, Nigerian National Petroleum Corporation, and Port Harcourt Refining Company.

Mr. Mansur is a fellow of the Nigerian Society of Engineers and the Nigerian Institute of Management. He serves on many Nigerian national committees, including the Nigerian Vision 2010 Committee, the Oil and Gas Subcommittee of the National Privatization Council, the National Working Group for the Conduct of the African Peer Review Mechanism in Nigeria, the Committee on the Assessment and Monitoring of the Millennium Development Goals, and the National Council on Reforms. He holds a master’s degree in industrial engineering and administration from Cranfield University (United Kingdom) and a postgraduate certificate in investment appraisal and management from the Harvard Institute of International Development.

Pedro Sampaio MalanChairman, Board of DirectorsUnibanco, Brazil

Ahmed MansurDirector General and Chief Executive OfficerNigerian Economic Summit Group

William F. MaloneyLead EconomistLatin America and the Caribbean RegionWorld Bank

33

Andreja Marusic is Head of the Secretariat of the high-level Council for Regulatory Reform for the government of Serbia. The council is responsible for leading regulatory reform efforts on behalf of the government, such as conducting regulatory impact analysis of new laws and regulations. Ms. Marusic led the strategy and implementation of Serbia’s new business-friendly commercial registry, one of the reforms that led to Serbia’s being identified as top reformer in the World Bank’s Doing Business in 2006. She served on the working group for Serbia’s Business Registration Law and Enterprise Law of 2004. Ms. Marusic is also currently President of the Management Board of the Agency for Business Registers.

Ms. Marusic has also worked as a consultant on business regulations for the World Bank, FIAS World Bank-IFC, and the U.S. Agency for International Development. She is one of the founders of the Balkan Centre for Regulatory Reform, an NGO aimed at reforming the region’s legal and economic framework in the direction of European standards. She holds a master’s in international business law from New York State University.

Mahmoud Mohieldin is Minister of Investment for the Arab Republic of Egypt. He also teaches financial economics at Cairo University. Mr. Mohieldin is a member of the General Secretariat of the National Democratic Party, a member of the Policies Secretariat, and Chairman of the Economic Commission of the party. Before his ministerial appointment Mr. Mohieldin served on the boards of directors of the Central Bank of Egypt, HSBC-Egypt, Telecom Egypt, the Diplomatic Institute, and EFG-Hermes. He also acted as an economic adviser to the state from 1995 to 2002, in various capacities.

Mr. Mohieldin has published several papers and is a member or fellow of the Arab Society for Economic Research; the Economic Research Forum of the Arab Countries, Iran, and Turkey; the Middle East Studies Association of North America; the British Society for Middle Eastern Studies; the U.K. Royal Economics Society; and the Egyptian Society for Political Economy. He holds economics degrees from Cairo University and the University of Warwick (England), a master’s degree in economics and social policy analysis from the University of York (England), and a PhD in economics from the University of Warwick.

Mahmoud MohieldinMinister of Investment, Egypt

Andreja Marusic� Attorney at LawHead of the Secretariat, Council for Regulatory Reform, Serbia

John Nellis has worked and written on privatization for more than 20 years. He worked with the World Bank from 1984 to 2000, where he led work on the design and implementation of privatization reforms, including extensive fieldwork in more than 50 developing and transition economies. Since then he has served as Principal of the consulting firm International Analytics and Senior Fellow at the Center for Global Development. He consults for the World Bank, the International Monetary Fund, the Organisation for Economic Co-operation and Development, and the Asian Development Bank.

Mr. Nellis’s recent publications include “Back to the Future for African Infrastructure? Why State-Ownership Is No More Promising the Second Time Around” (Center for Global Development, 2006); “Privatization in Developing Countries: A Summary Assessment” (Egyptian Center for Economic Studies, December 2005); Reality Check: The Distributional Impact of Privatization in Developing Countries (with Nancy Birdsall, Center for Global Development, 2005); and “Privatization in Transition States” (Privatization Barometer, 2005).

John NellisInternational Analytics and Center for Global Development

34

The Honorable Tarrin Nimmanahaeminda is Chairman of Siam Pithiwat. He also serves as Vice Chairman of the Princess Maha Chakri Siridhorn Foundation and Director and Comptroller of the Princess Mother Medical Volunteer Foundation.

The Honorable Tarrin Nimmanahaeminda served as Thailand’s Minister of Finance from 1992 to 1995 and again from 1997 to 2001. From 2001 to 2005 he was a Democrat Party member of the Thai Parliament. He was also Chairman of the Joint Development Committee of the World Bank and International Monetary Fund. He received his BA in government from Harvard University and MBA from Stanford University.

Joseph O’Keefe is Senior Manager of Corporate Relations for the International Finance Corporation. Before joining IFC, Mr. O’Keefe was a speechwriter for U.S. Secretary of Defense William Cohen. During that time he was also detailed to the White House Foreign Intelligence Advisory Board, where he was lead author of a study on security lapses at U.S. nuclear weapons research laboratories. Previously he was also a speechwriter for U.S. Trade Representative Charlene Barshefsky.

From 1993 to 1996 Mr. O’Keefe was an associate editor of the journal Foreign Affairs. He is a graduate of Spring Hill College in Mobile, Alabama, and Harvard University’s John F. Kennedy School of Government.

Howard Pack is Professor of Business and Public Policy and Professor of Management at the Wharton School of the University of Pennsylvania. He is also Professor of Economics in the School of Arts and Sciences and a fellow of the Institute for International Economics. He received his PhD in economics from the Massachusetts Institute of Technology. His recent research analyzes economic policies of developing countries, technology transfer, productivity growth, industrial development in successful Asian countries, African development, and the effects of foreign aid.

Mr. Pack is the author of Structural Change and Economic Policy in Israel (Yale University Press), Productivity, Technology, and Industrial Development (Oxford University Press), and Industrial Policy in an Era of Globalization: Lessons from Asia (Institute for International Economics, 2003). He has written many articles on international development and public finance. Mr. Pack has been an adviser and consultant to the World Bank, the U.S. Department of State, the U.S. Agency for International Development, the Asian Development Bank, the Inter-American Development Bank, UNCTAD, the International Labour Office, the United Nations Development Programme, and the Organisation for Economic Co-operation and Development. He has been a visiting faculty member at the University of California, Berkeley, and the Hebrew University of Jerusalem.

Honorable Tarrin Nimmanahaeminda ChairmanSiam Pithiwat

Howard PackProfessorWharton School, University of Pennsylvania

Joseph O’KeefeSenior Manager, Corporate RelationsInternational Finance Corporation

35

John Page is Chief Economist of the World Bank’s Africa Region. Mr. Page has been a World Bank economist and manager since 1980, undertaking a wide range of research, policy, and operational assignments. Before his present appointment in July 2004, Mr. Page was Director of Poverty Reduction, overseeing the Bank’s analytical and policy work on poverty issues. Before assuming that position in March 2000, he was the Bank’s Director of Economic Policy, focusing on growth, trade, and economic management issues. He was Chief Economist of the Middle East and North Africa Region and Director of its Social and Economic Development Group from 1993 to 1999.

Mr. Page has published several books, including the World Bank’s widely read study, The East Asian Miracle: Economic Growth and Public Policy (1993), and more than 60 articles on the economics of developing countries. Before his appointment at the World Bank Mr. Page was a member of the faculty at Princeton University and is currently Adjunct Professor at Johns Hopkins University. Mr. Page obtained his bachelor’s degree in economics from Stanford University and his doctorate from Oxford University, where he was a Rhodes Scholar.

Ana Palacio currently works as a consultant for the World Bank, reporting for the Presidency on the High-Level Commission on Legal Empowerment of the Poor. She is a member of the Board of Trustees of the Carnegie Corporation of New York, in addition to numerous other boards of directors and advisory committees. Ms. Palacio is a member of the Global Advisory Council of The American Interest and of the editorial board for Revue de Droit de l’Union européenne, in which she regularly publishes articles. She also contributes to a number of international political journals, among them Foreign Affairs and Géopolitique.

Ms. Palacio served as Spain’s Foreign Minister under Prime Minister José María Aznar (2002–04), the first woman ever to hold this post. Ms. Palacio was a member of the European Parliament during the fourth (1994–99) and fifth (1999–2002) legislatures. A lawyer by profession, she has held the most senior positions (First Vice President and President elect) in the governing body of European lawyers (Council of Bars and Law Societies of Europe) and is an honorary member of the Bar of England and Wales (affiliated with the Inner Temple). She is a member of the Board of Trustees and former Executive President of the Academy of European Law and Distinguished Professor of the European College in Parma. Ms. Palacio holds degrees in law, political science, and sociology.

John PageChief EconomistAfrica Region World Bank

Ana PalacioConsultantWorld Bank

Kenneth Pomeranz is Chancellor’s Professor of History and professor of East Asian languages and literatures, and former chair of the history department, at the University of California, Irvine, and director of the University of California Multi-Campus Research Group in world history. His publications include The Great Divergence: China, Europe, and the Making of the Modern World Economy (2000); The World That Trade Created: Society, Culture and the World Economy, 1400 to the Present (with Steven Topik, 1999); and The Making of a Hinterland: State, Society and Economy in Inland North China, 1853–1937 (1993). He is also coeditor of The Encyclopedia of the History of World Trade.

Mr. Pomeranz’s honors include various book prizes as well as Guggenheim, American Council of Learned Societies, and American Philosophical Society fellowships and distinguished lectureships at a number of universities in the United States, Europe, and East Asia. He is currently engaged in multiple projects, including a follow-up volume to The Great Divergence that takes the argument into the 20th century, an edited volume on early modern and modern environmental change, and a study of the goddess of Mount Tai in rural north China. Mr. Pomeranz received his PhD from Yale University in 1988.

Kenneth L. PomeranzChancellor’s Professor of HistoryUniversity of California, Irvine

36

Sridhar Ramasubbu is Vice President of Finance and Investor Relations for Wipro Technologies in the Americas. He joined Wipro in 1989 in its systems engineering division and later moved to international operations. Mr. Ramasubbu played a critical role in establishing U.S. operations for Wipro from 1992 to 1995, relocating to California in the process. He has represented the company and the industry in various forums.

Mr. Ramasubbu has delivered speeches at the Silicon Valley Technology Forum, the Silicon Valley Leadership Forum, the U.S. chapter of the Confederation of Indian Industries, and the University of Virginia’s Darden Business School. Before joining Wipro, Mr. Ramasubbu served as Chief Financial Officer of Manufacturing and R&D for the DCM group. Mr. Ramasubbu completed his engineering and management education at Birla Institute of Technology and Science, Pilani (India), in 1982.

Marc Reichel is an independent attorney specializing in the assessment and drafting of business legislation and removing administrative barriers to investment in developing and transition economies. He has worked in several conflict-affected countries, including Bosnia and Herzegovina, Liberia, Rwanda, Serbia, and Sierra Leone.

Before becoming an independent consultant, Mr. Reichel worked with FIAS World Bank-IFC and the German privatization institution Treuhandanstalt. He holds a law degree from the University of Munich and a master’s in international economics from Columbia University.

Jaana Remes is a Senior Fellow at the McKinsey Global Institute (MGI), McKinsey & Company’s economics think tank, based in San Francisco. Previously Ms. Remes was a consultant on McKinsey corporate finance and strategy projects in Mexico and the United States, working primarily with software, semiconductor, and financial sector clients. She joined MGI as a Visiting Fellow in 1997–98 and collaborated on major productivity research efforts in Brazil, the Republic of Korea, and the United Kingdom. After returning to MGI as a Senior Fellow in 2003, she co-led a number of research projects on productivity and economic development, global economic integration, and foreign direct investment.

Before joining McKinsey, Ms. Remes worked as a research fellow and consultant at several international development agencies and universities. Ms. Remes has a PhD in applied economics from Stanford University and a master’s degree in economics and philosophy from the University of Helsinki.

Sridhar RamasubbuVice President-Americas, Finance and Investor RelationsWipro Technologies

Jaana RemesSenior FellowMcKinsey Global Institute

Marc Reichel Consultant

37

Elisabeth Rhyne is ACCION International’s Senior Vice President of International Operations for West Africa and India. She also serves as Senior Vice President for Research, Development, and Policy. In addition, she heads the Financial Management Unit and the Publications Department. Ms. Rhyne has published numerous articles and four books on microfinance, including Mainstreaming Microfinance: How Lending to the Poor Began, Grew and Came of Age in Bolivia (2001). She is also coeditor of The New World of Microenterprise Finance.

Before joining ACCION, Ms. Rhyne developed and managed the U.S. Agency for International Development’s microenterprise program from 1994 to 1998. Previously she worked as an independent microfinance consultant based in Mozambique. Ms. Rhyne’s consulting assignments have included advising several government banks on microfinance policy. Ms. Rhyne earned a master’s and PhD in public policy from Harvard University. She holds a bachelor’s degree in history and humanities from Stanford University.

Elisabeth RhyneSenior Vice PresidentACCION International

Randi RytermanSector Manager, Public Sector Governance Poverty Reduction and Economic Management World Bank

Randi Ryterman is Sector Manager for Public Sector Governance in the Poverty Reduction and Economic Management (PREM) Network of the World Bank. Her group develops strategy, incubates new product lines, manages knowledge, builds internal capacity, and monitors progress in five thematic areas: anticorruption, public finance, administrative and civil service reform, decentralization, and legal and judicial reform. Previously Ms. Ryterman was a Lead Economist in the Europe and Central Asia Region of the World Bank, where she advised governments on conflict of interest management, legal drafting, administrative procedures, and other areas of anticorruption. Before that she conducted research on the behavior of firms in transition economies, first as an Assistant Professor of Economics at the University of Pennsylvania and later in the Development Economics Research Group of the World Bank. One of the key themes in her research has been the use of law and legal institutions by firms, on which she has widely published in economics and law journals in the United States and abroad. Ms. Ryterman received the Ed A. Hewitt Prize for political economy research on the interenterprise debt crisis in transition economies.

Ms. Ryterman received a BA in international relations from the University of Pennsylvania, a BS in economics from the Wharton School of Business, and an MA and a PhD in economics from the University of Maryland.

Ernesto Schargrodsky received his PhD in economics from Harvard University in 1998. He is currently a professor at Universidad Torcuato Di Tella in Buenos Aires, Argentina, and a visiting scholar at Harvard University. He has also been a visiting professor at Stanford University. His research includes studies of the effect of police deployment on crime, the impact of the privatization of water companies on child mortality, the relationship between bureaucratic wages and corruption, the distribution of crime victimization across socioeconomic levels, and the effects of awarding land titles to squatters. His work has been published in the American Economic Review, Journal of Political Economy, Journal of Law and Economics, Journal of Development Economics, and American Law and Economics Review, among others. He has been awarded fellowships and grants from Harvard University, Stanford University, the Inter-American Development Bank, the World Bank, the United Nations, PREAL, CONICET of Argentina, and the Global Development Network.

Ernesto SchargrodskyProfessor Universidad Torcuato Di TellaBuenos Aires

38

Charles O. Sethness is Vice President of the Department of Accountability at the Millennium Challenge Corporation (MCC). This department is responsible for overseeing the assessment of the economic logic and growth impact of country proposals, establishing monitoring and evaluation plans, collecting and analyzing performance measurement data, and conducting assessments related to environmental and social impacts and compliance and to fiscal accountability and procurement procedures. Mr. Sethness served as MCC’s interim Chief Executive Officer from August 9, 2005, to November 6, 2005.

For 14 years before joining MCC, Mr. Sethness was Chief Financial Officer at the Inter-American Development Bank. He has also been Director of the Capital Markets Projects Department at the International Finance Corporation, Assistant Secretary for Domestic Finance at the U.S. Department of the Treasury, Associate Dean for External Relations at the Harvard Business School, a Managing Director of Morgan Stanley, and U.S. Executive Director at the World Bank Group. Mr. Sethness received his AB in English and Special Program in the Humanities from Princeton University. He earned an MBA with high distinction from Harvard Business School, where he was a Baker Scholar.

Bernie Sheahan is Director of the International Finance Corporation’s Advisory Services Department, which supports the efforts of IFC member countries in introducing private participation in the delivery of public services. Before his current appointment Mr. Sheahan was IFC’s Chief Strategist and Director of the Operational Strategy Department, with responsibility for the development of IFC’s operational strategy and business plans. Before this he was Manager for Strategy in IFC’s Latin America and the Caribbean Department and acted as Change Manager for IFC.

Mr. Sheahan has also led IFC’s initiative on incorporating sustainability into its activities. In this area he led IFC’s work in developing the business case for sustainability in emerging markets, and he helped design the Equator Principles on environmental and social standards. Mr. Sheahan was a Visiting Lecturer at the Georgetown School of Business from 1998 to 1999. He is a frequent speaker on business and sustainability at conferences and universities. Mr. Sheahan holds a bachelor’s degree from Dartmouth College and an MBA from Harvard University.

Farooq Sobhan is the Founder President of the Bangladesh Enterprise Institute, a nonprofit, nongovernmental research think tank dedicated to private sector development in Bangladesh. At the Bangladesh Enterprise Institute Mr. Sobhan has served a crucial role in advocacy on private sector development issues. He maintains close ties with both the government of Bangladesh and the private sector and is committed to bringing about increased dialogue between them. Mr. Sobhan also plays an important role in facilitating activities in the design phase of the proposed Bangladesh Private Sector Development Support Project, a $150 million multidonor project.

Before founding the Bangladesh Enterprise Institute, Mr. Sobhan was a career diplomat for 33 years, with postings in Cairo, Paris, Belgrade, Moscow, New York, Kuala Lumpur, Beijing, and New Delhi. From 1997 to 1999 Mr. Sobhan served as Executive Chairman of the Board of Investment, Prime Minister’s Office of Bangladesh, where he was responsible for the promotion and facilitation of all foreign and domestic investment in the country. During this period he also served as the special envoy of the Prime Minister. Mr. Sobhan was the Raymond and Juliet Bland Visiting Professor of the Practice of International Affairs at the Elliott School of International Affairs, The George Washington University, in 2003.

Charles O. SethnessVice PresidentDepartment of AccountabilityMillennium Challenge Corporation

Farooq SobhanPresidentBangladesh Enterprise Institute

Bernard E. SheahanDirectorAdvisory Services Department International Finance Corporation

39

Peer Stein heads the International Finance Corporation’s group for Financial Infrastructure and Institution Building. In this role he is managing IFC’s advisory work and investments in credit bureaus worldwide. He is also overseeing IFC’s technical assistance and advisory work in financial markets, including banking, housing finance, microfinance, leasing, securities markets, and insurance. While Mr. Stein has global responsibilities, his most recent work has included Afghanistan, Brazil, China, Colombia, Egypt, Indonesia, Kenya, Morocco, Pakistan, South Africa, Thailand, Vietnam, Central America, and Eastern Europe (including Russia).

Peer Stein joined IFC in 1996 to establish its Extended Reach Office in Mongolia. Subsequently he moved to the Financial Markets Sub-Saharan Africa Department as an Investment Officer, and then to Global Financial Markets, where he started IFC’s Global Credit Bureau Program. Before joining IFC, Peer Stein worked in Germany as a management consultant in enterprise restructuring and as a partner in a strategic market research firm covering Eastern Europe. He holds a master’s degree in economics and business administration from Witten/Herdecke University, Germany’s first private university.

Richard Stern is Regional Program Coordinator for Africa for FIAS World Bank-IFC. At FIAS he has worked extensively in Sub-Saharan Africa as well as in Eastern Europe and Central America, leading studies of barriers to investment. Mr. Stern has concentrated on tax policy and administration issues, especially in Africa, focusing on the effects of taxation on small and medium-size enterprises and the informal sector.

Before joining FIAS in 2003, Mr. Stern was an economist at the International Monetary Fund for nine years, working mainly on former Soviet countries (Latvia, Estonia, Kazakhstan), Central African countries (Gabon, Congo), and postconflict countries (Rwanda, Congo, Bosnia and Herzegovina).

Peer SteinHead, Financial Infrastructure and Institution BuildingGlobal Financial Markets Department International Finance Corporation

Richard SternAfrica Regional Program Coordinator FIAS World Bank-IFC

Dimitris Tsitsiragos joined the International Finance Corporation in 1989. In September 2004 he was appointed Director of Global Manufacturing and Services, which is responsible for IFC’s activities in heavy industry (automotive, pulp and paper, steel, and the like), construction materials, light manufacturing, and services including tourism. Before this assignment Mr. Tsitsiragos spent two years based in New Delhi as IFC’s Director of the South Asia Department, where he achieved commitments of more than $800 million for the region in all sectors (a record for IFC); doubled IFC’s portfolio in India; and improved regional profitability significantly as a result of the successful execution of an equity divestiture strategy and decreased nonperforming assets.

Before his move to South Asia Mr. Tsitsiragos served as Manager of New Investments for Eastern and Central Europe in 2001–02 and Manager of IFC’s Oil & Gas Division in 2000–01. In the latter capacity he was associated with some of IFC’s landmark financings in the oil sector, for example, Chad-Cameroon and Early Oil in the Caspian Sea. In addition, Mr. Tsitsiragos was responsible for the acquisition by IFC of equity participations in a number of listed oil companies as well as in a number of oil-producing properties in Latin America, Central Asia, and North Africa. Mr. Tsitsiragos, a Greek national, holds an MBA from The George Washington University and a BA from Rutgers University.

Dimitris TsitsiragosDirector, Global Manufacturing and ServicesInternational Finance Corporation

40

Antoine van Agtmael founded Emerging Markets Management with a vision: to offer superior returns with lower risk by applying modern techniques to investing in carefully selected emerging markets equities. He is widely considered a pioneer in emerging markets investing, having coined the term “emerging markets” to describe this unique asset class.

Mr. van Agtmael has served as Division Chief in the World Bank’s Treasury operations and as Deputy Director of the Capital Markets Department at the International Finance Corporation. At IFC he created the world’s first emerging markets equity index and wrote a groundbreaking book on emerging markets. He earned an MBA from New York University, an MA from Yale University, and a BA from the Netherlands School of Economics.

Simon C. Y. Wong is a Strategy Fellow in the London office of McKinsey & Company. Mr. Wong is one of McKinsey’s leading experts on corporate governance and has served companies and governments in a number of industrial and emerging market economies on a broad range of corporate governance, organizational, and financial regulatory matters. In addition to his client work, Mr. Wong speaks and writes regularly on corporate governance and has advised several international organizations on policy issues.

Before joining McKinsey, Mr. Wong served as Counsel and Principal Administrator in the Corporate Affairs Division of the Organisation for Economic Co-operation and Development in Paris, where he focused on corporate governance, company law, and insolvency reform policy matters. He started his professional career as a securities lawyer with Shearman & Sterling and Linklaters.

Joerg Wuttke is General Manager and Chief Representative of BASF China, based in Beijing. Since joining BASF in 1997, Mr. Wuttke has been responsible for helping guide the company’s investment strategies for China, negotiation of large projects, and government relations. Before joining BASF, Mr. Wuttke worked with ABB for 11 years, in Germany and in China. In 1999 Mr. Wuttke was a founding member of the German Chamber of Commerce in China and in 2001–04 was Chairman of the Board. He is presently Vice President of the European Chamber of Commerce in China, a Rotarian, and a member of the European Bahai Business Foundation.

Mr. Wuttke holds a BA in business administration and economics from the University of Mannheim and studied Chinese in Taiwan (China) in 1984–85. A frequent speaker on business and industry issues in China, he coauthored The Chemical and Pharmaceutical Industry in China (Springer Publishing Trust, 2005). In 2005 he became Honorary Professor of Business Administration at the Fachhochschule Heidelberg, Germany. Mr. Wuttke has also been a member of the Corporate International Advisory Board of Beijing International MBA Programs at Beijing University since 2004.

Antoine van AgtmaelFounder, President, and Chief Investment OfficerEmerging Markets Management

Joerg WuttkeGeneral Manager and Chief Representative BASF China

Simon C. Y. WongStrategy Fellow McKinsey & Company, London

FORUM TEAM Michael Klein, Vice President, Private Sector Development, World Bank-IFC, Chief Economist, IFC

PSD Vice Presidency Team

Bita Hadjimichael Carla Kleinhappel Christine Bowers Graeme Littler Humaira Qureshi Iva Ilieva Hamel Jelani Wilkins Jocelyn Tan Dytang Marie Delion Miran Makas Nadine Shamounki Ghannam Pablo Halkyard Penelope Brook Ramin Aliyev Simeon Djankov Suzanne Smith

PSD Regional Sector Managers

Demba Ba Fernando Montes Negret Khalid Mirza Simon Bell Susan Goldmark Zoubida Allaoua

THE WORLD BANK