The World Bank has appointed Franco-Egyptian Hafez Ghanem as the bank’s vice president for Africa.
Ghanem who is a development expert will lead an active regional portfolio consisting of over 600 projects totaling more than $1 billon.
He succeeds Makhator Diop who is now the bank’s vice president for infrastructure.
Under Ghanem’s leadership, the bank will continue to support inclusive growth and poverty reduction by financing projects that boost human capital and support private sector.
Ghanem will ensure that priority is given to projects and programs that promote economic opportunities for youth and promote gender equality.
Previously as the World Bank’s vice president for the Middle East and North Africa, Ghanem led engagement in the region on several projects with grants more than $13 billion.
World Bank has been assisting different countries in Africa including Malawi to eradicate extreme poverty and integrate better global economy through different projects and programs that the bank has been implementing in the countries.