logo
Ndiamé Diop Appointed as World Bank Vice President for Eastern and Southern Africa

Ndiamé Diop Appointed as World Bank Vice President for Eastern and Southern Africa

Zawya01-05-2025

The World Bank has appointed Ndiamé Diop as the new Vice President for Eastern and Southern Africa, effective today. In line with the World Bank's efforts to be closer to clients and enhance service delivery, Diop will be based in Nairobi, Kenya. As Vice President, he will oversee an active regional portfolio of almost 400 projects worth over $76 billion and an extensive program of cutting-edge analytical work, technical assistance, and policy advice across 26 countries.
Under Diop's leadership, the World Bank will continue to work closely with clients and partners to advance strategic priorities in the region, including job creation, energy access, digital connectivity, regional integration, health, water and sanitation, and education — all of which underpin poverty reduction and spur economic transformation in the region. Diop will also guide efforts to address the drivers of fragility, conflict, and violence to build more resilient communities.
With over 25 years of experience working across East Asia, the Middle East, North Africa, South Asia and Sub-Saharan Africa, Diop brings a global perspective and a strong track record of achieving results and impact, including tripling World Bank financing to the Philippines to support economic reforms and improve outcomes in various sectors. In his most recent role as Country Director for Nigeria, Diop led the World Bank's largest portfolio in Africa ($17 billion) and shaped the future Nigeria program to support faster economic growth through policy reforms, digital broadband connectivity, firms' access to finance and agribusiness growth.
He holds a Ph D in Economics and has published extensively in peer-reviewed journals and books on topics such as fiscal policy and growth, monetary policy and inflation, natural resource abundance, Dutch disease, and economic diversification. He is fluent in French, English, and Wolof and possesses an intermediate level fluency of Arabic and Bahasa (Indonesian).
Diop succeeds Victoria Kwakwa, who retired on March 31, 2025.
Distributed by APO Group on behalf of The World Bank Group.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Israel-Iran war could slow Gulf investment inflow in 2025, warns World Bank regional chief
Israel-Iran war could slow Gulf investment inflow in 2025, warns World Bank regional chief

The National

time12 hours ago

  • The National

Israel-Iran war could slow Gulf investment inflow in 2025, warns World Bank regional chief

Foreign direct investment in the Gulf could slow in the second half of this year as the war between Iran and Israel dents investor sentiment, the World Bank 's director for the region has said. Investors will probably adopt a wait-and-see approach as the conflict that started with Israel's attacks on Iran's nuclear sites on June 12 worsens, Safaa El-Kogali told The National in Riyadh. 'Even if they've started [investing beforehand], they [foreign investors] might hold off until they see things settling down a bit,' she said on the sidelines of a World Bank seminar on Sunday. De-escalation does not seem likely after President Donald Trump ordered the first-ever direct US military attack on Iranian soil earlier that day. The US attacked three Iran nuclear facilities with six bunker-buster bombs and launched Tomahawk missiles. GCC countries had varied in their ability to attract FDI in 2024. The UAE received Dh167 billion ($45.5 billion) in foreign direct investment last year, Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, said in a post on X on Thursday. This represented a 48 per cent increase, he added. The UAE accounted for 37 per cent of the total foreign investment flows in the region, he said. Saudi Arabia's net FDI inflows in 2024 decreased as a share of GDP, amounting to 1.1 per cent compared to 2.1 per cent in 2023, according to a recent report by the World Bank. Bahrain, Kuwait, and Qatar saw FDI fall by 7.3 per cent, 2.3 per cent and 0.5 per cent of GDP respectively from 2023 to 2024, it added. Oman saw FDI increase by 2.4 per cent of GDP. This was due to 'prudent fiscal management and diversification efforts' the report said. What is the impact? No one can accurately measure the impact of the escalation on the regional economies, but peace is necessary for economic security and the implications will be broad, Ms El-Kogali said. 'Increasing costs of commodities, of shipments – this will impact a number of industries that import raw material', she said. The conflict will add to inflation, which will affect investors and consumers alike, she added. 'Whenever there is uncertainty … in any region, tourists usually decide not to go,' she said. Travel and tourism made up about 11.4 per cent of the region's gross domestic product in 2024, according to the latest data from the Statistical Centre for the Co-operation Council for the Arab Countries of the Gulf. Oil prices, which have surged since the beginning of the war, will also have an impact on the fiscal balance of Gulf countries that still rely heavily on oil as their primary source of revenue and exports, she said. Brent and WTI surged by as much as 13 per cent in the first few hours of trading after Israel began its military campaign against Tehran. Oil prices posted a third weekly gain in a row despite falling on Friday as the war sparked supply fears. On Friday, Brent, the benchmark for two thirds of the world's oil, fell 2.33 per cent to settle at $77.01 a barrel. West Texas Intermediate, the gauge that tracks US crude, closed 0.28 per cent lower at $74.93 a barrel. Who will feel it more? Gulf countries that have diversified away from oil, such as the UAE, are more likely to resist hits caused by global economic uncertainty, Ms El-Kogali said. This was a key message of the World Bank report, Smart Spending, Stronger Outcomes: Fiscal Policy for a Thriving GCC, released last week, that measured the growth of Gulf economies until June 1. 'I think this report is really timely, because it focuses on what the GCC countries have been doing, and what impact, or the effect, those policies that have been put in place [have had],' said Ms El-Kogali. 'The UAE has started the diversification agenda a while back and currently, with 74 per cent of GDP being from the non-oil sector, puts them in a stronger position. 'The more you diversify, the more you have different opportunities to deal with crises that come your way. When you put all your eggs in one bag, and something happens to that bag, then you're in greater trouble.' Proper investment Ms El-Kogali said that higher oil prices can benefit Gulf countries, depending on how revenue is spent in the non-oil sector. 'We think that as the non-oil sector continues to be strong and growing, with the easing off of the oil production cuts, that the countries of the GCC have good gross prospects in the short and medium term,' she said. 'We really expect growth to reach 4.5 per cent by 2026 driven by the oil and the non-oil.' It takes time to see the returns of investments she added. This growth is particularly important during period of geoeconomic uncertainty. However, 'there may be the risk of spillovers' of the war which will impact the growth trajectory of Gulf nations, she said. Gulf countries have been prudent in the past during crises and 'we saw that implementing fiscal spending during downturns had a positive impact', she said. There is room to do more to further streamline spending and the Gulf countries must prioritise investments that have high returns, and can create jobs during difficult times, that will then sustain growth through economic cycles, she added.

Abdulla Al Hamed meets Arab content creators in Cannes
Abdulla Al Hamed meets Arab content creators in Cannes

Al Etihad

time2 days ago

  • Al Etihad

Abdulla Al Hamed meets Arab content creators in Cannes

21 June 2025 19:35 CANNES (WAM) Abdulla bin Mohammed bin Butti Al Hamed, Chairman of the National Media Office (NMO) and Chairman of the Board of Directors of the UAE Media Council, met with a number of Arab content creators during his participation in the Cannes Lions International Festival of Creativity in the French city of meeting was attended by Dr. Jamal Mohammed Obaid Al Kaabi, Director-General of the National Media meeting highlighted the upcoming BRIDGE Summit, scheduled to take place in Abu Dhabi this December, as a global platform for fostering media collaboration and developing an advanced media ecosystem that anticipates future Hamed affirmed that the summit provides a vital space for engagement, knowledge exchange and the creation of new media solutions that amplify the positive impact of content. He invited content creators to actively participate in the summit's activities, emphasising their pivotal role in shaping public awareness and delivering creative messages to diverse audiences across digital added that content creation has become a powerful tool for building awareness and culture, and an essential element in supporting the path of sustainable development. Al Hamed also stressed the importance of producing content that reflects Arab culture and issues and communicating them to global audiences, especially in relation to the aspirations of Arab youth for development and prosperity.

Oil drops, stocks climb as Trump delays Iran move
Oil drops, stocks climb as Trump delays Iran move

Gulf Today

time2 days ago

  • Gulf Today

Oil drops, stocks climb as Trump delays Iran move

Oil prices retreated on Friday while US and European stock markets gained ground as concerns over a war escalation in Iran eased. International crude benchmark contract Brent dropped more than two per cent, weighing on the share prices of energy majors, after US President Donald Trump said Thursday that he would decide whether to join Israel's strikes on Iran within the next two weeks. Traders said it suggested Trump preferred negotiations to end the fighting, as top European diplomats met Iran's Foreign Minister Abbas Araghchi in Geneva on Friday to discuss a "diplomatic solution" to end the war. US indices opened slightly higher on Friday, though analysts said volumes were likely to be lacklustre with many traders taking a four-day weekend after Thursday's Juneteenth holiday. European stock markets were up in afternoon deals while Asian equity indices closed out the week mixed. "News that president Trump would delay any decision on joining Israel's attacks against Iran has boosted the market mood," said Kathleen Brooks, an analyst at trading firm XTB. "Brent crude has dropped... as traders price out the worst-case scenario for geopolitics," she said. Crude futures had soared and global equities slumped in recent sessions as the Israel-Iran conflict showed no signs of easing, with investors pricing in the risk of tighter oil supplies that would likely weigh on economic growth. "While the immediate prospect of a US intervention in Iran may have diminished, the fact this is reportedly a two-week hiatus means it will remain a live issue for the markets going into next week," said Dan Coatsworth, an investment analyst at AJ Bell. "A meeting of European ministers with their Iranian counterparts to try and formulate a deal today could be crucial." While the Middle East crisis continues to absorb most of the news, Trump's trade war remains a major obstacle for investors as the end of a 90-day pause on his April 2 tariff blitz approaches. "While the worst of the tariffs have been paused, we suspect it won't be until those deadlines approach that new agreements may be finalised," said David Sekera, chief US market strategist at Morningstar. "Until then, as news emerges regarding the progress and substance of trade negotiations, these headlines could have an outsize positive or negative impact on markets," he said. In Europe, Eutelsat shares soared 27 per cent on the Paris stock exchange after the French government said it would lead a 1.35 billion euros ($1.5 billion) in the European satellite operator. French President Emmanuel Macron urged a "speedy reconquest" for Europe in the space sector in the face of growing American competition, in a speech at the Paris Air Show. Agence France-Presse

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store