10 July 2018

Africa: World Bank Appoints New Vice President for Africa

The World Bank (WB) has appointed Hafez Ghanem as the bank's new vice president for Africa, effective July 1, a release has said. Ghanem succeeds Makhtar Diop, who has been appointed as the bank's Vice President for Infrastructure.

According to the release, Ghanem, a development expert with over 30 years of experience, will lead an active regional portfolio consisting of over 600 projects, totaling more than US$71 billion.

Under Ghanem's leadership, WB will continue to support inclusive growth and poverty reduction by financing projects that boost human capital, support private sector development, raise agricultural productivity, improve access to infrastructure, build resilience to climate change and promote regional integration.

"Priority will be given to projects and programs that provide economic opportunities for youth and that promotes gender equality," the release said. The bank will also intensify its work in fragile and conflict-affected states.

Ghanem brings a wealth of experience to the position, having worked in more than 30 countries in Africa, Europe and Central Asia, the Middle East and North Africa and Southeast Asia. Previously, the bank's Vice President for the Middle East and North Africa, Ghanem led engagement in the region through a portfolio of ongoing projects, technical assistance and grants worth more than US$13 billion.

As Sub-Saharan African countries strive to accelerate growth, eradicate extreme poverty and better integrate into the global economy, the World Bank Group remains a committed partner that can be relied upon to bring innovative approaches to development and financing.

Africa

Africa's Losing Out On Football Talent. They Need to Figure Out Why

A number of African countries must be wondering 'what could have been' if they were able to field several of the players… Read more »

See What Everyone is Watching

Copyright © 2018 Liberian Observer. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 800 reports a day from more than 140 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.