Senegal’s Former Finance Minister Named World Bank’s Vice President

World Bank’s Vice President The World Bank on Monday named Senegal’s former Minister of Finance, Mr Makhatr Diop as its new Vice President for Africa.

Diop will succeed Nigeria’s Oby Ezekwesili, whose term of office ends in May.

A statement issued by the bank and given to the News Agency of Nigeria (NAN) in Abuja on Monday, said Diop had been Country Director for Brazil since 2009.

It said Diop joined the World Bank in 2000 and had held various senior positions, including Country Director for Kenya, Eritrea and Somalia.

It added that he also served as Director of Infrastructure and Director of Strategy and Operations in the Latin America and Caribbean region.

It said that Diop, prior to joining the bank, had worked with the International Monetary Fund (IMF) and served as Chairman of the West Africa Monetary Union Board of Finance Ministers.

The statement quoted Diop as saying that he was honoured to return to the Africa region as vice president at a time when the continent was experiencing robust economic growth led by private investment.

“With world class development knowledge and innovative financing, we can help support Africa’s momentum and ensure that all Africans, especially the poor, shared in the continent’s economic and social transformation.”

The bank is a partner of 48 countries in sub Saharan Africa and finances approximately 500 projects in the region.

In 2011, the bank committed seven billion dollars to new development financing for Africa and disbursed 5.5 billion dollars, in addition to producing 200 analytical studies. (NAN)

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