World Bank Group President ,Jim Yong Kim has appointed Dr Victoria Kwakwa as the new Regional Vice President for East Asia and Pacific.
Dr Kwakwa is expected to lead the Bank’s advisory and lending operations in the region and oversee strategic engagement with the region’s 23 member countries. The Bank’s lending in East Asia Pacific is expected to be over $7 billion in the fiscal year ending June 30.
This was made known in a publication by the World Bank Asia Pacific - a development which attracted much congratulatory messages.
In a statement from Dr Kwakwa said she was honoured to lead engagement in a region that is key to the future relevance of the World Bank Group. According to her, in the last decade, East Asia and Pacific’s share in the world economy has tripled, to about 19 percent. That number is projected to rise to more than 30 percent by 2030.
She added that she looks forward to working with the group's client countries to maintain their competitiveness and economic dynamism while tackling challenges including urbanization, vulnerability to climate change, rapid ageing and rising inequality.
"I am confident that the region will continue to find innovative solutions that will resonate around the world," she said.
Dr Kwakwa was previously the World Bank’s Country Director of Vietnam, overseeing a multibillion-dollar lending portfolio and an innovative knowledge program. During her tenure, the Bank’s partnership with Vietnam has deepened, responding to the increasingly complex challenges of an emerging middle-income country.