Nigeria’s former Finance and Foreign Affairs minister, Dr Ngozi
Okonjo-Iweala, has been appointed World Bank Managing Director,
in charge of Africa, South Asia, Europe and Central Asia
Regions. She will also have oversight responsibility for human
resources.
Mrs. Okonjo-Iweala, whose appointment takes effect from December
1, will join other top executives of the World Bank to provide
enviable services.
Good
Credentials
World Bank President, Mr. Robert B. Zoellick, who announced the
appointment, remarked that Okonjo-Iweala's commitment to the
developing world gave her the top job. To him, “Ngozi brings a
unique set of skills and experience to the World Bank Group."
As an outstanding Minister of Finance and Foreign Minister in
Nigeria, Ngozi helped to lead the country's reform programmes on
issues of fiscal prudence, transparency of government accounts,
good governance, and anti-corruption.
She led Nigeria's quest for debt relief and helped her obtain an
unprecedented 18 billion US Dollars write-off from the Paris
Club.
Ngozi was also instrumental in helping Nigeria obtain its first
ever Sovereign Credit rating (of BB minus) from Fitch and
Standard & Poor's. She is an internationally respected world
leader who knows the global financial institution well, from her
21 years of service.
Outstanding Service
Before serving as Nigeria’s Finance Minister, Mrs. Okonjo-Iweala
served in a number of important positions at the World Bank,
including Vice President and Corporate Secretary, Director of
Operations in the Middle East and North Africa region, and
Country Director for the South East Asia and Mongolia Country
unit. She joined the World Bank in 1982.
Okonjo-Iweala is the Founder of NOI-Gallup polls, an indigenous
Nigerian opinion research organisation and co-founder of the
Makeda Fund - a fund that invests in African women
entrepreneurs. She is currently a Distinguished Fellow at the
Brookings Institution.
From Year 2003 to 2006, she served as Finance Minister and
subsequently Minister of Foreign Affairs of Nigeria.
Acceptance
Accepting the appointment, Okonjo-Iweala said: "I am delighted
to be coming back, and I welcome the opportunity to work through
this great institution to make a difference in the lives of our
youth, and our hardworking men and women in the developing
world. I particularly look forward to working with President
Zoellick as he maps out exciting new paths for the World Bank
Group."
Okonjo-Iweala is a graduate of Economics from Harvard
University. She holds a PhD in Regional Economics and
Development from the Massachusetts Institute of Technology.
AA/QA/MIA
