World Bank: Makhtar Diop Is New Infrastructure Vice President
The former Senegalese Minister of Economy and Finance boasts 25 years of development experience.
After six years as the World Bank’s Vice President for Africa where he oversaw the grant of a record 70 billion US dollars (38,525 billion FCFA) to Sub-Saharan Africa to help tackle key development challenges, Makhtar Diop was on May 12, 2018 appointed World Bank’s Vice President for Infrastructure.
The 58- year-old former Senegalese Minister for Economy and Finance boasts 25 years of development experience, spanning several institutions.
The newly-created World Bank infrastructure vice-presidency comprises transport and digital development, energy and extractive industries, infrastructure finance and public-private partnerships. Diop will oversee the bank’s work on infrastructure and infrastructure finance, lead efforts to develop sustainable solutions, and help close the infrastructure gap between developing and emerging economies.
The World Bank is partner to 48 Sub- Saharan African countries where it finances about 500 projects.
The bank’s portfolio includes projects and programmes in agriculture, trade and transport, energy, education, health, water and sanitation. As World Bank Vice President for Africa, Makhtar Diop was instrumental in mobilizing private finance to support the continent’s infrastructure and foster innovation and technology adoption.
Since joining the World Bank in 2001, Diop has amongst others been Country Director for Kenya, Eritrea and Somalia, Director for Infrastructure and Director of Strategy and Operations for Latin America and the Caribbean Region.
With degrees in Economics from the Universities of Warwick and Nottingham in England, Diop started his career in banking before joining the International Monetary Fund, IMF and later the World Bank. As Minister of Economy and Finance, he instituted key structural reforms that laid the foundation for Senegal’s sustainable growth in the late 1980s.