Contact
In Washington: Dina El Naggar
delnaggar@worldbank.org
Washington, D.C., July 2, 2009 - The World Bank has announced that Shamshad Akhtar, a Pakistani National, will be the new Vice President for the Middle East and North Africa Region. She will take up her appointment on July 6. "I welcome the opportunity to work in the Middle East and North Africa region at this point in the region's development,” said the new MENA Vice President. “I am struck by how much progress the countries of the region are making on reforming governance and strengthening economic management. However this region also faces a number of common challenges. These include the need to accelerate economic growth as well as the pace of job creation, integrate more with the global economy, and support those populations suffering from the adverse effects of conflict. In addition the region must be prepared to tackle emerging global problems such as climate change. I see enormous continuing scope for the World Bank to work with its clients on addressing these complex challenges and developing its human resource capital."
Prior to becoming a Vice President in the World Bank, Shamshad Akhtar served as Governor of the State Bank of Pakistan (2006-2009), a Federal Ministerial level ranking. During this period she was also a Governor of the IMF. In 2006 and 2007 she was nominated Asia’s Best Central Bank Governor by Emerging Markets and the Banker’s Trust. Prior to her leadership of the Pakistan Central Bank, she worked as Director General of the South East Asia Region of the Asian Development Bank. From 1998-2002 she was Director of the Asian Development Bank’s (ADB) Governance, Finance and Trade Division. She also served as ADB’s Coordinator of the APEC Finance Ministers Process. Between 1980 -1990 she worked as a Country Economist at the World Bank’s Resident Office in Islamabad. She is the recipient of a Post Doctoral Fellowship from Harvard University and holds an MA in Development Economics from the University of Sussex and an MSc in Economics from the Quaid-e-Azam University, Islamabad, Pakistan .
The World Bank serves 24 client countries in the Middle East and North Africa Region. Bank lending to the region reached $1.8 billion in fiscal year 2009 (July 2008-June 2009) for energy, infrastructure, water, financial and private sector development, public sector governance, education and social protection projects, among others. The Bank’s portfolio of projects under implementation in the region totals $8 billion. It also provides a range of knowledge services, including analytical work, technical assistance and facilitates the sharing of global development experience with client countries. In addition, it works closely with partner organizations on a variety of services to the countries of the MENA Region.
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