Junaid Kamal Ahmad, the World Bank’s India Director, has been named a Vice President of the international lending agency. Ahmad, who will lead the Multilateral Investment Guarantee Agency (MIGA) as Vice President, Operations, is only the second Bangladeshi to be chosen to such a high position in the bank’s history. He will start his new job on April 16, according to a press statement.
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KEY POINTS:
- On the operational side, Faisal Chaudhary was the first Bangladeshi native to hold the position of vice president.
- Ahmad will work to advance and enhance MIGA’s brand partnering across the World Bank Group as well as with financial institutions, private investors, and development actors; originate and pursue meaningful, impact-driven projects; and lead the Operations team to deliver on MIGA’s mandate of mobilising private finance for development projects in Emerging Market Developing Economies, according to a statement from the bank.
- “Our (Globe Bank) cooperation with India allows us to learn and share what we’ve learned with the rest of the world. The most crucial is that as India’s economy develops, it will have a significant impact on global growth and poverty “In an interview with PTI, Ahmad, who has been the World Bank’s country director in India since September 2016, said.
- A country director in India in charge of such a programme is someone who can later consider taking on higher leadership posts at the World Bank. In response to a query, he replied, “The experience of India has been tremendously essential in providing me with that experience and perspective.”
AHMAD’S VIEW AND IMPORTANCE:
- The issue in funding development, according to Ahmad, is to mobilise long-term capital markets.
- Ahmad provides substantial expertise and understanding of international development, as well as an excellent track record of thought leadership and service to World Bank Group client countries, according to the bank’s statement.
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