Senegal’s Makhtar Diop, who spent six years as director of the World Bank’s Africa Region, where he managed a $70 billion portfolio, has been named vice president of the financial institution’s infrastructure department. “World Bank Infrastructure department deals with transport, digital economy, energy and the mining sector, as well as infrastructure financing and public-private partnerships (PPP)” a report by the bank indicates.
Makhtar Diop, who will assume office on 1st July 2018 at this newly created post, will be responsible for the Bank’s global investment in infrastructure and be developing sustainable solutions to address the infrastructure gap in developing countries and emerging ones.
“Over the last six years, Makhtar Diop has played a key role in mobilizing private financing to support infrastructure development in Africa, fostering innovation ecosystems, and accelerating the use of new technologies,” officials of the financial institution said. They described Diop as a champion of renewable energies, for which he has encouraged investments in this area as well as regional interconnectivity in the energy and transport sectors. Diop’s brings in-depth knowledge of complex issues related to infrastructure development, a key asset in his new role.
He was Director of Finance, Private Sector, and Infrastructure for Latin America and the Caribbean. He served as the World Bank’s director of operations for Brazil, where the financial institution helped finance the construction of important infrastructures.