BusinessDay... the voice of business: Okonjo-Iweala becomes World Bank managing director

Okonjo-Iweala becomes World Bank managing director
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Anonymous on 05 October, 2007 12:36:00
 
Robert B. Zoellick,
World Bank presi-
dent, has announced the appointment of Ngozi Okonjo-Iweala as the managing
director of the bank.
Okonjo-Iweala, whose appointment is effective December 1, will join managing
directors Juan Jose Daboub and Graeme Wheeler; executive vice presidents Lars
Thunell (IFC) and Yukiko Omura (MIGA), and Vincenzo La Via, chief financial
officer, at the top level of World Bank Group (WBG) management.
Okonjo-Iweala’s responsibility covers Africa, South Asia, Europe and Central
Asia regions as well as overseeing Human Resources. Zoellick, while announcing
the appointment, said: "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 lead the country’s reform programme 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 country obtain an
unprecedented $18-billion 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.
"In addition, she knows the WBG well from her 21 years of service. Her
commitment to the developing world is unparalleled. I am delighted she has
accepted to join my senior team."
Okonjo-Iweala is founder of NOI-Gallup polls, an indigenous Nigerian opinion
research organisation and co-founder of the Makeda Fund – a fund to invest in
African women entrepreneurs. She is currently a distinguished fellow at the
Brookings Institution.
She served as finance minister (2003-2006) and subsequently minister of foreign
affairs.
Okonjo-Iweala led Nigeria’s Economic Team responsible for implementing the
Obasanjo administration’s far-reaching economic and social reform agenda.
The reforms made particular progress in restoring macroeconomic stability,
tripling growth, initiating a strong fight against corruption, and increasing
transparency. Before her ministerial appointment, 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,
and country director for the South East Asia and Mongolia Country unit.