The World Bank has appointed Hafez Ghanem as the new World Bank Vice President for Africa, effective July 1. A development expert with over 30 years of experience, Ghanem will lead an active regional portfolio consisting of over 600 projects totaling more than $71 billion.
Under Hafez Ghanem’s leadership, the World Bank says it will 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 programs that provide economic opportunities for youth and that promote gender equality. The World Bank will also intensify its work in fragile and conflict-affected states.
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Ghanem brings a wealth of experience to the position, having worked in more than 30 countries in Africa, Europe and Central Asia, Middle East and North Africa, and Southeast Asia.Previously the World Bank’s Vice President for the Middle East and North Africa, he led engagement in the region through a portfolio of ongoing projects, technical assistance and grants worth more than $13 billion.
”As Sub-Saharan African countries strive to accelerate growth, eradicate extreme poverty and better integrate in the global economy, the World Bank Group remains a committed partner that can be relied upon to bring innovative approaches to development and financing.” World Bank said in a statement.
Ghanem succeeds Makhtar Diop, who has been appointed as the World Bank’s Vice President for Infrastructure.