The head of the World Bank’s India operations has been promoted to Vice President

Junaid Kamal Ahmad, the World Bank’s India Director, has been named Vice President of the international lending agency. Ahmad, who will lead the Multilateral Investment Guarantee Agency (MIGA) as Vice President of Operations, is only the second Bangladeshi to be chosen to such a high position in the bank’s history. Ahmad will start his new job on April 16, according to a press statement. 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

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 mobilizing 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, the influence on global growth and poverty will be significant,” Ahmad, the World Bank’s India country director since September 2016, told PTI in an interview.

“An Indian country director supervising such a program is, therefore, someone who can begin to consider more senior responsibilities inside 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.”

The problem in financing development, according to Ahmad, is mobilizing long-term capital markets. “If you look at the issues of development, whether it’s dealing with a pandemic, climate change, or infrastructure,” he continued, “all of this will require long-term money.” 

“The amount of money required is significantly greater than what public finance can provide. As a result, the question has become how to use public financing to bring long-term capital into development. “De-risking development is the way to go,” he remarked. 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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