19 Feb World Bank appoints Makhtar Diop, former Senegal finance minister, as first African to head IFC
The World Bank has appointed Makhtar Diop, former Senegal minister of economy and finance, as managing director and executive president to head the International Finance Corporation (IFC), with effect from March 1, 2021.
This was announced on Thursday, in a statement by David Malpass, president of World Bank Group.
Speaking on Diop’s appointment, Malpass said: “He has deep development and finance experience and a career of energetic leadership and service to developing countries in both public and private sectors.”
“Diop’s skills at IFC will help the World Bank Group continue our rapid response to the global crisis and help build a green, resilient, inclusive recovery.
“We need business climates and thriving businesses that attract investment, create jobs and foster the scaling up of low carbon electricity and transportation, clean water, infrastructure, digital services, and the wide range of development success that are key to our mission of poverty reduction and shared prosperity.”
According to the statement, Diop’s key responsibilities will be to deepen and energize IFC’s 3.0 strategy of proactively creating markets and mobilizing private capital at significant scale; deliver on the IFC capital package policy commitments including increased climate and gender investments and support countries facing fragility, conflict and violence (FCV).
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