International Finance Corporation names new Mekong region manager

He takes over from Kyle Kelhofer, who has taken on a new role as the senior country manager for Benin, Ghana, Liberia, Sierra Leone and Togo, according to a press release issued by the IFC on Monday.

Jacobs, an U.S. national, joined IFC in 2003 and has worked in Central Asia, the Middle East and the Pacific Islands.

He will work from Hanoi, prioritizing increased financing for local businesses, expanding renewable energy, and promoting climate-smart initiatives to support countries’ climate agenda.

“It’s vital to help [Mekong] countries power their future growth in a sustainable way so that economic development does not come at a detrimental cost to the environment,” he said.

IFC, a member of the World Bank Group, operates in over 100 countries. It committed $31.5 billion to private companies and financial institutions in developing countries the last fiscal year.

Its investment in Vietnam has steadily increased over the past five years, with a focus on infrastructure, renewable energy and agribusiness as well as facilitating climate-smart and innovative initiatives.