Ibrahim I. Elwan
Chairman & CEO
Ibrahim Elwan is the Chairman and the Chief Executive Officer of Elwan Group (previously Infrastructure Capital Group), a company created in 1995 to develop, own and operate infrastructure and real estate projects. To date, Elwan Group has developed projects in power, wastewater, and real estate in the United States, Europe, and the UAE amounting to about AED 2 billion, including Tanqia FZC, the privately-owned wastewater utility in the Emirate of Fujairah. Elwan Group currently has several real estate projects and a number of privately-owned wastewater utilities and municipal solid waste treatment plants in advanced stages of development.
Prior to establishing the Group, Mr. Elwan held a number of senior positions at the World Bank during his nineteen years with the institution. His professional career was primarily focused on the development of infrastructure, energy, and private sector in the emerging economies of Europe, the Middle East, North Africa and South Asia. His last position at the Bank was Manager Private Sector development and privatization where he was the architect of the Energy Development Fund in Pakistan. Established under the leadership of the Bank to provide financing for private sector projects in power and energy, the Fund raised US$ 600 million which generated an additional US$ 2.6 billion in equity and commercial debt to finance about 3,000 MW of privately-owned power generation capacity. Mr. Elwan was also responsible for the design of Enhanced Co-Financing of the World Bank (ECO), the first instrument to be provided by the Bank to support projects financed under limited recourse by guaranteeing the performance of host governments. The ECO instrument was successful in attracting financing for major power projects in countries such as Pakistan and China.
Prior to joining the Bank in 1976, Mr. Elwan was a Senior Economist with Ontario Hydro and Shell Canada and before that, he taught at a number of universities in the US and Canada. Mr. Elwan has degrees in engineering and economics.
Mr. Elwan has written two books on restructuring the energy sector in the former Yugoslavia and Jordan and his articles on project finance have appeared in numerous publications, including the Financial Times, Project Finance International, Infrastructure Finance, the Middle East Economic Digest (MEED), Project and Trade Finance, Power in Asia, and the Far Eastern Economic Review.