Organization Structure

FIRST has a two-tier decision-making structure:  (i) a governing council (“Governing Council”), which provides strategic guidance to FIRST, sets overall policies and priorities and approves large projects, and (ii) the Project management Unit ("PMU"), which manages day-to-day activities of FIRST and approves all projects in coordination with the Project Approval Committee.

The Governing Council

FIRST is guided by a Governing Council comprising one representative of each of FIRST’s Main Donors, a representative from the Bank and a representative from the IMF.  “Main Donors” are defined as Donors who have contributed at least US$ 2,000,000 (two million United States dollars) in cash contributions to FIRST. 

The Governing Council Members and Alternates

Netherlands Ministry of Foreign Affairs (MFA)

Peter Le Poole
Senior Policy Advisor, Financial Sector Development, MFA

Chair of the Governing Council

Bjorn Kuil
Senior Policy Advisor, Financial Sector Development, MFA


Department for International Development (DFID), UK

Ross Masood
Senior Adviser and Team Leader, Private and Financial Sector Development


Gail Warrander
Head of Investment and Finance Team at Department for International Development


German Federal Ministry for Economic Cooperation and Development (BMZ)

Susanne Dorasil
Head of Division Economic Policy, Financial Sector Division, BMZ


Marius Rauh
Financial Systems Development, BMZ


International Monetary Fund (IMF)

Christopher Towe
Deputy Director, Monetary and Capital Markets Department, IMF

Vice - Chair

Effie Psalida
Division Chief, Monetary and Capital Markets Department, IMF


Luxembourg Ministry of Finance

Miguel Marques
Alternate Director - Belgium/Luxembourg/Slovenia, EBRD


Arsene Jacoby
Director, International Financial Institutions, Ministry of Finance


State Secretariat for Economic Affairs (SECO), Switzerland

Monica Rubiolo
Principal, Macroeconomic Support Division, SECO


Rosmarie Schlup
Deputy Head Macroeconomic Support Division, SECO


The World Bank Group

Gloria Grandolini
Senior Director, Finance & Markets Global Practice, The World Bank Group


Peer Stein
Director, Finance & Markets Global Practice, The World Bank Group


Program Management Unit

The World Bank manages FIRST’s work program on behalf of Donors through the PMU as described in the FIRST Charter. The PMU is led by the Program Manager, who is recruited internationally and hired by the World Bank.


Consolate K. Rusagara
Program Manager
Hanh Thi Bich Le
Senior M&E Officer
Pramita Moni SenGupta
Senior Project Officer
Emiko Todoroki
Senior Project Officer
Marlon Rawlins
Project Officer
Tim L. De Vaan
Project Officer
Renske Van der Kooi
Project Officer
Sarah Zekri
Project Officer
Jatin Dawar
Resource Management Officer
Subita Gurbani
Knowledge Management Officer
Padmashree Sidarth
Operations Analyst
Baaqia S. Holloway
Program Assistant