WASHINGTON, DC, December 10, 2003—The World Bank Group today announced the appointment of Yukiko Omura to the position of Executive Vice President of the MultilateralInvestment Guarantee Agency (MIGA).
Omura joins MIGA from her most recent post as CEO and Executive Director of AIDS Prevention Fund, a charitable company based in London that aims to raise finances for worldwide HIV/AIDS prevention. Omura will start with the Bank in March and assume her responsibilities in May 2004.
“It is with great pleasure that I welcome the appointment of Ms. Omura. She brings to the table a unique combination of private sector experience, as well as a commitment to development issues, which will no doubt serve MIGA well,” said World Bank President James D. Wolfensohn. “At the same time, I would like to express my deep appreciation to the current head of MIGA, Motomichi Ikawa, for his dedicated service to the agency over the last five years.”
Omura brings more than 20 years of international experience in the financial services sector. Prior to her founding of AIDS Prevention Fund, she was Managing Director and Head of Global Debt for Japan with Dresdner, and served as Managing Director and Head of Global Fixed Income and Derivatives, Japan, with UBS/LTCB Warburg.
Omura has extensive knowledge of emerging markets, with 10 years’ experience in areas such as mergers and acquisitions, derivatives and emerging market sales, trading, and research at JP Morgan.
In addition she served as Head of Credit Products and Emerging Markets, Asia, with Lehman Brothers. She began her career as a project economist with the Inter-American Development Bank, after receiving her education pre-dominantly in Geneva, London and Boston.
MIGA was formed in 1988 to encourage foreign direct investment into developing countries by providing noncommercial risk insurance against such risks as transfer restriction, expropriation, breach of contract, and war and civil disturbance (including terrorism and sabotage). MIGA also offers investment marketing services to help developing member countries promote their own private investment opportunities more effectively. Since its inception, MIGA has issued 674 guarantees for projects in 85 developing countries. Total coverage issued exceeds $12 billion, bringing the estimated amount of FDI facili-tated to $50 billion.