Former Senegal finance minister becomes head of IFC...

Dhaka, Friday   26 February 2021

Former Senegal finance minister becomes head of IFC

 Desk Report

 Published: 10:25 PM, 19 February 2021  

Photo: Collected

Photo: Collected

The World Bank on Thursday announced that it has selected former Senegal finance minister Makhtar Diop to lead the agency responsible for private sector finance at a critical time for the global recovery.

He would be the first African to lead the International Finance Corporation (IFC), which leverages financing to support private firms in developing nations.

The announcement comes just days after the World Trade Organization (WTO) selected Nigeria’s former finance minister Ngozi Okonjo-Iweala as its new director-general, the first African and first woman to serve in that role.

Noting his “deep development and finance experience,” World Bank President David Malpass said, 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.”

Diop, currently World Bank vice president for infrastructure and previously vice president for Africa, will start his new role at the IFC on March 1.