Hafez Ghanem appointed WB VP for Africa

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The World Bank has appointed Hafez Ghanem the new World Bank vice president for Africa effective July 1. A development expert with over 30 years of experience, Mr Ghanem will lead an active regional portfolio consisting of over 600 projects totalling more than $71 billion (Sh7.1 trillion).

He has worked in more than 30 countries in Africa, Europe and Central Asia, Middle East and North Africa, and Southeast Asia.

Previously, he was the World Bank’s Vice-President for the Middle East and North Africa. The bank said under Ghanem’s leadership, it would 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 programmes that provide economic opportunities for youth and promote gender equality. The World Bank will also intensify its work in fragile and conflict-affected states,” said the lender in a press release.

Ghanem succeeds Makhtar Diop, who has been appointed the World Bank’s vice president for infrastructure.

Source: standardmedia.co.ke



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