The World Bank has appointed Makhtar Diop as the new Managing Director and Executive Vice President of the International Finance Corporation (IFC) effective March 1, 2021.
Prior to his appointment, Mr. Diop previously served as the World Bank Kenya Country Director.
His appointment was announced by the World Bank Group President David Malpass who hailed Diop as a person with expertise with a span of experience in steering development in developing economies.
Makhtar Diop has deep development and finance experience and a career of energetic leadership and service to developing countries in both public and private sectors,” said Malpass.
“Makhtar’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. We need business climates and thriving businesses that attract investment, create jobs and foster the scaling up of low carbon electricity and transportation, clean water, infrastructure, digital services, and the wide range of development success that are key to our mission of poverty reduction and shared prosperity.”
Diop, is a Senegalese and a former Minister of Economy and Finance and 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 support 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.
