The objective of the second edition of the IFC Debt Capital Markets Executive Program was to train IFC investment officers in the fundamental principles of debt capital markets. IFC investment officers are well versed in providing loans and equity investments to private sector enterprises in developing countries, but have little exposure to the value proposition of debt capital markets. The IFC has pioneered the use of debt capital market transactions in several emerging markets, like Russia, to meet client needs on a cost-effective basis. Training in debt capital markets will enable the broad pool of investment officers to consider and take advantage of debt capital market solutions where relevant in their dealings with clients.

This course provides a solid foundation in the economics of finance and macroeconomics, examines international capital and banking markets, analyzes the value proposition of debt capital markets, explores the processes and instruments associated with securitization, derivatives and structured products, and outlines financial regulatory structure and recent developments in both emerging and advanced economies. The program was designed for a cohort of 25 students. Four weeks in duration with the first two weeks held at SIPA and the remainder at IFC. The instruction was not highly technical, but more conceptual and analytical in nature.