The World Bank has appointed Makhtar Diop, a Senegalese national with more than 25 years of development experience, as its new Vice-President for Africa.
A statement by the bank said Diop was previously Country Director for Brazil since 2009 where he managed the World Bank’s largest country programme.
Prior to joining the bank, he worked at the International Monetary Fund and served as Minister of Finance of Senegal, and as chair of the West African Monetary Union (WAEMU) Board of Finance Ministers.
After joining the World Bank in 2001, he held various senior positions, including Country Director for Kenya, Eritrea and Somalia, as well as Director of Infrastructure and Director of Strategy and Operations in the Bank's Latin America and Caribbean region, the statement said.
“It is an honour to return to the Africa region as vice-president at a time when the continent is on the rise, with strong growth led by private investment, and a new sense of optimism,” said Diop.
“With world-class development knowledge and innovative financing, we can help support Africa’s momentum and ensure that all Africans, especially the poor, share in the continent’s economic and social transformation.”
The World Bank is a partner of 48 countries in sub Saharan Africa and finances approximately 500 projects in the region.
The banks' portfolio includes projects and programmes in areas such as agriculture, trade and transport, energy, education, health, water and sanitation.
In fiscal year 2011, the World Bank committed more than USD7bn in new development financing for Africa, and disbursed over USD 5.5bn in addition to producing more than 200 analytical studies.