AFC

Ana Fiorella Carjaval

World Bank Group

Lead financial sector specialist

Description

Ana Fiorella Carvajal is a Lead Financial Sector Specialist at the Finance, Competitiveness and Investment (FCI) Global Department of the World Bank. With over 25 years of experience in financial sector issues, she specializes in SME financing and capital markets. Ms. Carvajal leads the policy work of FCI in SME financing. Her most recent publication, Boosting SME Finance for Growth: The Case for More Effective Support Policies, summarizes lessons learned from the experience of both advanced economies and emerging markets and developing economies. She has led and participated in technical assistance programs on SME financing in a wide range of emerging markets, including India, Mexico, Morocco, North Macedonia, Philippines, and Peru. In addition, Ms. Carvajal has led technical assistance programs on issues pertaining capital markets development, regulation, and supervision in a wide range of emerging markets, such as Brazil, Chile, Colombia, Indonesia, India, Kenya, Morocco, Peru, and Türkiye. Her work in many of these jurisdictions aims to support a deeper role of capital markets on SME financing. Prior to joining the Bank in 2013, Ms. Carvajal worked as Senior Financial Sector Expert at the International Monetary Fund (IMF), where she focused on regulation and supervision of capital markets. She assessed the largest capital markets in the world, as part of the financial sector assessment program (FSAP) that the IMF and the World Bank conduct. Ms. Carvajal holds a Law Degree and a master’s degree in public administration.