Politics News

WB chief visits Liberia

The Executive Director of the World Bank Group for Liberia, Mr. Andrew N. Bvumbe, arrived in the country Saturday, June 30, for a five-day official visit here.

A Ministry of Finance Development Planning release issued over the weekend says during his visit, Mr. Bvumbe will discuss opportunities to promote growth, value additions and economic diversification. The Executive Director will visit project sites. He is accompanied by one of his advisors, Mr. Lamin Bojang, who is a Gambian.

While in Liberia, Mr. Bvumbe, a national of Zimbabwe, will meet and hold discussions with President George M. Weah; Minister of Finance and Development Planning Samuel Tweah and other senior officials of the Liberian Government. He will also meet and hold discussions with the World Bank Group family in Liberia.

Mr. Bvumbe also serves as Executive Director for the following countries: Botswana, Burundi, Eritrea, Ethiopia, The Gambia, Kenya, Lesotho, Malawi, Mozambique, Namibia, Rwanda, Seychelles, Sierra Leone, Somalia, South Sudan, Sudan, Swaziland, Tanzania, Uganda, Zambia, and Zimbabwe.

The Executive Directors of the World Bank Group are responsible for the conduct of the general operations of the Bank and exercise all the powers delegated to them by the Board of Governors under the Articles of Agreement.

The Executive Directors of the Bank serve as Directors of International Finance Corporation (IFC) and Executive Directors of International Development Association (IDA), as long as the country that appoints them, or any one of the countries that have elected them, is a member of IFC and IDA. All members of the Multilateral Investment Guarantee Agency (MIGA) Board of Directors are elected. The Executive Directors fulfill their duties through various types of engagements:

Provide overall guidance to management on strategic directions and on corporate, regional, country-level and thematic issues; Exercise oversight over operational, financial, and institutional matters, selection and accountability of senior management, and risk management functions;

and Approve the use of financial resources by all World Bank Group (WBG) entities, including operational and capital budgets, International Bank for Reconstruction and Development (IBRD) and IDA loans, credits, guarantees, and grants, IFC investments, and MIGA guarantees, and decide on policies presented by management that impact the organization’s general operations and use of resources.

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