Senegal ex-Finance Min takes over as World Bank VP
A Senegalese national, Makhtar Diop has on Monday took over as the World Bank’s Vice President for Africa at its headquarters in Washington.
With more than 25 years of development experience, a World Bank press release issued on Monday says Diop was previously Country Director for Brazil since 2009.
There, he managed the World Bank’s largest country program.
“It is an honor 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.
Before becoming World Bank Vice President for Africa, Diop worked at the International Monetary Fund, IMF and served as Senegal’s Finance Minister and as Chair of the West African Monetary Union, UAMOA.
“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 new World Bank Vice President added.
After joining the World Bank in 2001, Makhtar Diop 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 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 programs in areas such as agriculture, trade and transport, energy, education, health, water and sanitation.
The release said in fiscal year 2011, the World Bank committed more than US$ 7.0 billion in new development financing for Africa.