Şebnem Erol Madan

Şebnem Erol Madan is the Director for Economics and Sustainability of MIGA. She leads MIGA’s Economics and Sustainability (MIGES) group overseeing non-financial risk management, country risk ratings, as well as E&S, climate, gender and evaluation functions. 

Ms. Erol Madan has over 25 years of experience in structured markets and a proven track record of collaboration across institutions and diverse teams to manage risks and deliver value to clients. Previously, Ms. Erol Madan was a Practice Manager within the Infrastructure Finance, PPPs & Guarantees (IPG) Global Practice, where she oversaw the World Bank guarantee program. Her team collaborated with sector teams, government clients, commercial counterparts, IFC, and MIGA to develop programmatic approaches to mobilize private capital for climate-smart projects through financial structuring, targeted credit enhancements, and technical assistance. 

Prior to joining the World Bank, Ms. Erol Madan worked in investment banking in London for 15 years.  She was a Managing Director in the Structured Credit Trading team at Nomura and before that in the Special Situations and Securitized Products groups at Deutsche Bank in London. She worked closely with issuers, institutional investors, commercial banks, and rating agencies in designing, underwriting, and placing innovative finance solutions for new borrowers and with new investors.  She started her investment banking career in 1996 at Bankers Trust, where she worked on pioneering application of securitization to infrastructure assets to access long dated funding from institutional investors.

She holds a bachelor’s degree from Boğaziçi University in Istanbul and an MBA from the Wharton School of Business at the University of Pennsylvania.