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Makhtar Diop Appointed as International Finance Corporation (IFC) Managing Director and Executive Vice President.

World Bank Group President David Malpass today announced the appointment of Makhtar Diop as Managing Director and Executive Vice President to head the International Finance Corporation (IFC), an arm of the World Bank Group that advances economic development and improves the lives of people by encouraging growth of the private sector in developing countries.

Diop, a Senegalese national and former Minister of Economy and Finance, is currently serving as the World Bank’s Vice President for Infrastructure, where he leads the Bank’s global efforts to build effective infrastructure in developing and emerging markets that supports inclusive and sustainable growth. In this role Diop oversees the Bank’s critical work across energy and transport sectors, digital development, and our efforts to bring more quality infrastructure services to communities through public-private partnerships.

Prior to his current appointment, Diop served for six years as the World Bank’s Vice President for the Africa Region, where he oversaw a major expansion of our work in Africa and the delivery of a record-breaking $70 billion in commitments. A passionate advocate for Africa and sustainable development globally, Diop led efforts aimed at increasing access to affordable and sustainable energy and promoting an enabling environment for innovation and technology adoption.

Diop served twice as a World Bank Country Director -- for Brazil and for Kenya, Eritrea, and Somalia. He has a strong grasp of the public/private sector interface, started his career in the banking sector, and has first-hand experience in leading structural reforms in support of the private sector, including in his position as the Minister of Economy and Finance of Senegal. Diop worked as an economist in the International Monetary Fund. And he served as the World Bank Director for Finance, Private Sector & Infrastructure in the Latin America and Caribbean region.

A recognized opinion leader in development, Makhtar has been named one of the 100 most influential Africans in the world. In 2015, he received the prestigious Regents’ Lectureship Award from the University of California, Berkeley. He holds advanced degrees in economics and finance.   

This appointment is effective March 1, 2021.

Source: www.worldbank.org


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