Vice President for the Middle East and Africa, International Finance Corporation
Sérgio Pimenta is the Vice President for Middle East and Africa at International Finance Corporation (IFC). In this capacity, he is in charge of all advisory and investment operations, as well as mobilisation, in a region with about 650 staff.
In his previous role with IFC, Pimenta was the Director and Global Head of Industry—Manufacturing, Agribusiness, and Services, managing all operations in these sectors worldwide. He led a team of 350 staff working across more than 100 countries to expand the private sector’s role in addressing urgent development challenges in areas such as agribusiness, health, education, manufacturing, and commercial services.
Prior to joining the World Bank Group through its Young Professionals Program in 1996, Pimenta worked for the Treasury Department of the French Ministry of Finance, as well as for the Banque Nationale de Paris (BNP).
A Portuguese and French national, he holds an engineering degree from the École Polytechnique, Paris, and a post-graduate degree from the École Nationale des Ponts et Chaussées, Paris.
Dubai Electricity and Water Authority (DEWA) was formed on 1 January, 1992, by a decree issued by the late Sheikh Maktoum bin Rashid Al Maktoum to merge Dubai Electricity Company and Dubai Water Department, which had been operating independently before then. Both organisations were established by the late Sheikh Rashid bin Saeed Al Maktoum in 1959. Dubai Government fully supported the Electricity Company and the Water Department to provide Dubai’s citizens and residents with a continuous and reliable supply of electricity and water. Since then, DEWA has made considerable achievements, to be ranked as one of the best utilities in the world. DEWA provides services today to more than 900,000 customers with a happiness rate that reached 95% in 2018.
The UAE, represented by Dubai Electricity and Water Authority (DEWA), has maintained its first global ranking, for the third consecutive year, with scores of 100% in all Getting Electricity indicators in the World Bank’s Doing Business 2020 report. The report measures the ease of doing business in 190 economies around the world. DEWA achieved competitive results in global benchmarking, surpassing the private sector and major European and American utilities in efficiency and reliability. DEWA raised the efficiency of its energy production by using the latest technologies and adopting technological innovations, surpassing European and American utilities, by reducing losses from electricity transmission and distribution networks to 3.3% compared to 6–7% in the US and Europe. DEWA also achieved the lowest customer minutes lost per year (CML) in the world of 2.39 CML compared to 15 minutes in Europe and was also able to reduce water network losses to 6.5% in 2018 compared to 15% in North America, which is one of the best results in the world.