Suriname Becomes IFC’s 183rd Member Country, 14th Member from the Caribbean

Washington, D.C. - IFC, a member of the World Bank Group, announced today that the Republic of Suriname became its 183rd member.

Suriname is the 14th Caribbean country to join IFC. Its IFC membership was recommended by IFC’s Board of Directors. The country was already a member of the World Bank’s International Bank for Reconstruction and Development.

“Suriname looks forward to IFC’s support in identifying investment opportunities and advisory services that can help the country advance in its development and modernization agenda,” said Gillmore Hoefdraad, Governor of the Central Bank of Suriname, who signed the IFC Articles of Agreement to ratify the country’s membership.

Vishnu Dhanpaul, member of the Board and Alternate Executive Director for Brazil, Colombia, Dominican Republic, Ecuador, Haiti, Panama, Philippines, Suriname, and Trinidad and Tobago, said: “The private sector in Suriname is an important engine of growth, jobs, and development, and will be able to greatly benefit from IFC’s knowledge and financing. This will have a positive impact in creating opportunities for the people of Suriname.”

Suriname, located on the northern coast of South America, has a population of about 500,000. Its economy is dominated by extractive industries and agribusiness. Suriname is a member of the Caribbean Community and Common Market.

IFC Vice President Rashad Kaldany, who signed the articles on behalf of IFC, said: “We welcome Suriname’s membership as it culminates a dialogue between the government of Suriname and IFC about the potential role of the private sector in the country’s social and economic development. We look forward to a fruitful and long-term relationship.”

About IFC
IFC, a member of the World Bank Group, is the largest global development institution focused exclusively on the private sector. We help developing countries achieve sustainable growth by financing investment, providing advisory services to businesses and governments, and mobilizing capital in the international financial markets. In fiscal 2011, amid economic uncertainty across the globe, we helped our clients create jobs, strengthen environmental performance, and contribute to their local communities—all while driving our investments to an all-time high of nearly $19 billion. For more information, visit www.ifc.org.