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World Bank Creates Two Portfolios For Sub-Saharan Africa Region

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The sub-Saharan African region will now have two portfolios of World Bank vice Presidents to ensure careful focus on progress in particular countries where the global institution is represented.

The two Vice Presidents will be covering Western and Central and Eastern and Southern Africa, respectively- World Bank announced the change in early 2020, which took effect today.

The region has been led since 2018 by Hafez Ghanem, who today takes on the role of Vice President for Eastern and Southern Africa.

“Our commitment to Africa gets stronger every day, and I am thrilled to work alongside Ousmane Diagana to deliver even more resources to the people who need them the most,” said Hafez Ghanem, World Bank Vice President for Eastern and Southern Africa. “We are two Vice Presidents, but we see Africa as one, and will continue sharing lessons, expertise, and ideas across the continent.”

The creation of an additional Vice Presidency Unit is part of the World Bank Group’s continuous efforts to align resources with priorities.

Ousmane Diagana becomes Vice President for Western and Central Africa today.

“I am honored to lead the Bank’s efforts in West and Central Africa, with a strong focus on innovation, impact, and transformation,” said Ousmane Diagana, Vice President for Western and Central Africa.

“Working together with Hafez, I know we can and will do more to put countries and people first and find ways to confront today’s development challenges using all of the tools at our disposal,” he said.

The global institution said it is increasing its lending to this region more than any other on the continent. Funded programs include; agriculture, trade and transport, energy, education, health, water and sanitation.

About U$50 billion will be released to 48 countries in Sub-Saharan Africa making up about one-third of the World Bank’s entire portfolio. These financing volumes are almost double what the region delivered ten years ago.

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