Mr. Cesare Calari, an Italian national, is the Vice President of the Financial Sector in the World Bank. After experiences in law practice and with the Bank of Italy, he joined the International Finance Corporation (IFC) in 1982 and has held a number of appointments including Director of the IFC Africa Region and Director of the IFC Global Financial Markets Group, the position he held until his recent appointment as Vice President of the Financial Sector of the World Bank in July 2001. Mr. Calari is a member of the Financial Stability Forum and serves on the Board of Directors of Moneda Asset Management (Santiago, Chile). He has also been a director of Zivnostenska Banka (Prague), Nomura Hungary (Budapest), and International Bank in Poland (Warsaw). Cesare Calari holds degrees in law and international economics from the University of Bologna (Italy) and Johns Hopkins University (US).