The Grassroots Business Fund (GBF) is a member of Toniic because it is an action-oriented community of experienced investors, many of whom share our belief that businesses with operations in emerging markets have the potential to drive economic development and improve local standards of living.
Harold Rosen is GBF’s Chief Executive Officer (CEO). In May 2004, Harold founded IFC’s Grassroots Business Initiative (GBI), which he managed until 2008, when it was restructured and spun off to become the Grassroots Business Fund (GBF).
Prior to his work with GBI and GBF, Harold worked at with the World Bank Group for over 30 years. He served as an investment officer in IFC’s Latin America and Africa Departments; as manager for IFC Financial Planning and Policy; as a member of the task force that started the World Bank Group operations in the former Soviet Union; as manager of IFC’s Asia Department; and as director of IFC’s Central and Southern European Department. He has both funded and managed large IFC investment portfolios and has played a major role in starting IFC’s microfinance and SME activities; this included the creation and management of the Mekong, South Asia and Southeast Europe Small Enterprise Facilities. Harold has helped IFC move into a number of new approaches, geographic markets, products and services. In March 2000, Harold created and served as director of the Small and Medium Enterprise department, a joint IFC/World Bank department. He worked with this group until creating GBI in 2004.
Harold joined the World Bank Group in 1978 through the Young Professionals Program. He holds an M.B.A. from Harvard Business School, as well as bachelor’s and master’s degrees in regional science from the University of Pennsylvania.