(CMC) – The World Bank Friday announced the appointment of economist and development expert, Axel van Trotsenburg, as its new Vice President for the Latin America and the Caribbean Region.
It said that van Trotsenburg, who has over 30 years of experience at the World Bank Group, will manage its relations with 31 countries and a portfolio of ongoing projects, technical assistance and grants of about US$30 billion.
“I am pleased to work again in Latin America and the Caribbean to build even stronger partnerships with the region’s governments and civil society to promote sustainable development and opportunities for all,” van Trotsenburg said.
“The World Bank is ready to continue serving the region with our expertise to address the rapidly changing challenges of our time, with the main focus of improving people’s lives,” he added.
The Washington-based financial institution said that at a time when weaker global growth threatens the region’s economies, many countries face the challenges of protecting the social gains achieved over the last decades and satisfying people’s rising aspirations.
In addition, the unprecedented massive exodus of migrants in recent years has increased pressure on the region’s economic recovery, it said, adding that to address these and other challenges, the World Bank provides a comprehensive package of services, including knowledge, advisory work, technical assistance, and finance.
“With the recently approved capital increase, the Bank stands ready to support an ambitious agenda for the future. Going forward, the World Bank is committed to heavily invest in infrastructure, social protection, as well as in health and education to better protect and prepare the region’s most important capital: its people. Sustainable and inclusive development will remain a priority, as reflected in the Bank’s program, among others, in climate change, strengthening governance, and expanding opportunities for all.”
van Trotsenburg was most recently the World Bank Vice President of Development Finance (DFi), where he oversaw the strategic mobilization of resources, including for the World Bank Group’s International Development Association (IDA) and International Bank for Reconstruction and Development (IBRD), as well as a multibillion-dollar trust fund portfolio.
The previous Latin America and Caribbean Vice President, Jorge Familiar, is now Vice President of the World Bank Group Finance and Accounting (WFA) unit.