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Makhtar Diop

Makhtar Diop
Diop in 2021
Managing Director of the International Finance Corporation (IFC)
Incumbent
Assumed office
01 March 2021
Preceded byPhilippe Le Houérou (de)
Vice President of the World Bank for Infrastructure
In office
01 July 2018 – 01 March 2021
PresidentDavid Malpass
Jim Yong Kim
Succeeded byRiccardo Puliti
Vice President of the World Bank for Africa
In office
01 March 2012 – 01 July 2018
PresidentJim Yong Kim
Robert Zoellick
Preceded byOby Ezekwesili
Succeeded byHafez Ghanem
Minister of Economy and Finance
In office
05 April 2000 – 12 May 2001
PresidentAbdoulaye Wade
Prime MinisterMoustapha Niasse
Preceded byMoustapha Diagne (fr)
Succeeded byMamadou Seck
Personal details
BornSenegal
Alma materUniversity of Warwick
University of Nottingham
OccupationEconomist

Makhtar Diop (born June 27, 1960) is a Senegalese economist and public official. He is currently the Managing Director of the International Finance Corporation (IFC),[1][2] the largest development institution focused on the private sector in emerging markets and developing economies. He is the first African to hold this position.[3][4][5][6] Before his appointment at the IFC, Diop had a series of senior leadership roles at the World Bank[7][2] and served as Senegal’s Minister of Finance and Economy from 2000 to 2001.[8]

Early life and education

Diop was born on June 27, 1960, in Dakar to the family of Master Fadilou Diop and Aychatou Sar.[9] His father, Master Fadilou Diop, was a human rights lawyer.[9][10][11] His mother, Aychatou Sar, was a pioneering feminist who presided over the Union of Women of Senegal at only 23 years old.[9] Diop obtained a Finance degree from the Ecole Supérieure Libre des Sciences Commerciales Appliquées - ESLSCA (Grande Ecole), France.[12][13] He then pursued graduate studies in economics—specializing in macroeconomics and econometrics—at the University of Warwick[14] and the University of Nottingham[4] in the United Kingdom. In June 2023, he was awarded an Honorary Doctorate from the University of Ottawa for his contributions to economic development and finance.[15][16]

Career

Early career

Diop began his career as a financial analyst and authorized agent for the Union of Senegalese Banks (USB) in Dakar, Senegal.[17] From 1986 to 1993, he served as a technical advisor to the Senegalese Ministry of Economy and Finance.[4][18] He also worked as an economist at the International Monetary Fund (IMF) between 1997 and 2000.[4][19]

Minister of Economy and Finance, 2000–2001

In April 2000, Diop was appointed Minister of Finance and Economy of Senegal under Prime Minister Moustapha Niasse and President Abdoulaye Wade,[20] making him the youngest person to hold this position in the country's history.[16] Diop chaired the Council of Ministers of the West African Economic and Monetary Union.[21] He played a key role in restructuring the country's Customs and Treasury departments (ref 19, 20). He also launched Senegal’s first "Sovereign Debt Credit Rating" with Standard and Poor’s,[22] the first in Sub-Saharan Africa outside of South Africa. He also played a role in initiatives associated with the Omega Plan MRAP and the New Partnership for Africa’s Development (NEPAD).

The World Bank

Diop joined the World Bank in October 2001 (ref 22). He was Country Director for Kenya, Somalia, and Eritrea;[23][8] Sector Director for Finance, Private Sector and Infrastructure for Latin America and the Caribbean;[24] Director of Operations and Strategy for Latin America and the Caribbean; and Country Director for Brazil from 2009 to 2012. The World Bank's Country Partnership Strategy (2012–2015) for Brazil was developed under Diop's leadership.

On May 1, 2012, Diop was appointed by World Bank President Robert Zoellick as the institution's Vice President for Africa,[25][26] responsible for Sub-Saharan countries. In this role, Diop oversaw the institution’s strategy and delivery of $70 billion in funding to promote economic growth, reduce poverty, and enhance resilience across the continent.[24] He was instrumental in expanding financial inclusion programs, especially in rural regions, and in leading infrastructure projects that addressed energy deficits and transportation challenges.

On July 1, 2018, Diop was appointed Vice President for Infrastructure at the World Bank[27]. He oversaw the World Bank portfolio for Energy & Extractives, Transport, Digital Development, Infrastructure Finance, Public-Private Partnerships (PPPs), and Guarantees.

Managing Director of the International Finance Corporation (IFC) (2021–Present)

On March 1, 2021, Diop was appointed Managing Director and Executive Vice President of the International Finance Corporation (IFC), the private sector arm of the World Bank Group,[28][29][30] becoming the first African to hold the position.[31][32] In his current role, he has championed initiatives to mobilize private sector investment, promote climate finance, and support sustainable development in emerging markets.[33][34] Diop has also strongly emphasized the importance of fostering innovation and digital transformation in developing economies.[35][36] Under Diop's leadership, IFC hit a record $56 billion in investments in the 2024 financial year.[37]

Personal Interests

Creative Industries

Diop hosts the “Creative Development” podcast, where he engages in discussions on cultural innovation, development, and the role of creative industries in spurring economic growth[38][39][40][41]. His guests have included internationally renowned figures such as Idris Elba[41], Pretty Yende[42], Chimamanda Ngozi-Adichie[43], Don Cheadle[41], Nadia Nadim, Alexandra Cousteau, Lewis Pugh, Anand Mahindra[44], Vidya Balan[45], Dia Mirza, Sauti Sol[41][46], Baaba Maal[47], Ablaye Cissoko, Barbara Hendricks, and others. The podcast emerged as Finalist in 15th Annual Shorty Awards[48].

Music

A passionate advocate for the arts, Diop is an avid jazz enthusiast[49][50]. He has spoken on how the creativity inherent in jazz music influences leadership, problem-solving, and innovation within the realm of finance[51].

Martial Arts

In addition to his financial and economic endeavors, Diop is an accomplished karate competitor[49]. A three-time Senegal Karate Champion[52], he has also represented his country in the World Karate Championships on two occasions, crediting the discipline for fostering resilience and focus in his professional life[53]. He is also a member of Olympism365, a commission of the International Olympic Committee (IOC)[54].

Recognition

Diop’s contributions to economic policy and international development have earned him numerous accolades, including:

References

  1. ^ "Makhtar Diop, IFC's Managing Director". IFC. Retrieved 10 February 2025.
  2. ^ a b "IFC Managing Director". World Bank. Retrieved 10 February 2025.
  3. ^ "World Bank Makes Diop First African to Head Private Sector's IFC". Bloomberg.com. Archived from the original on 20 February 2021. Retrieved 10 February 2025.
  4. ^ a b c d Endurance, Okafor (19 February 2021). "Five things to know about Makhtar Diop, first African to head IFC". Businessday NG. Retrieved 10 February 2025.
  5. ^ Ugbodaga, Mary (18 February 2021). "Makhtar Diop, former Senegal finance minister, becomes first African to head IFC". TheCable. Retrieved 10 February 2025.
  6. ^ "Ex-Senegal finance minister is first African to head World Bank's IFC". Free Malaysia Today. AFP. 18 February 2021. Retrieved 10 February 2025.
  7. ^ "Makhtar Diop". www.worldbank.org. Retrieved 10 February 2025.
  8. ^ a b "Former Senegal Finance Minister Makhtar Diop Is The First African To Head World Bank's Development Arm IFC". Forbes ME. Retrieved 10 February 2025.
  9. ^ a b c "Vous Êtes La Génération Capable de Faire Revenir Le Monde À La Raison". SenePlus (in French). 10 June 2023. Retrieved 10 February 2025.
  10. ^ kimaniwawanjiru (23 March 2010). "The Banker with the Bass". kimaniwawanjiru. Retrieved 10 February 2025.
  11. ^ février, TOURISME ET HOTELLERIE | La CITHA 2025 se tiendra à Abidjan en. "MAKHTAR DIOP | Economiste et grand amateur d'arts". Africa Exclusive - Les actualités d'une Afrique en mutation (in French). Retrieved 18 February 2025.{{cite web}}: CS1 maint: numeric names: authors list (link)
  12. ^ "Finance: un Africain, Makhtar Diop, nouveau patron de la SFI | adiac-congo.com : toute l'actualité du Bassin du Congo". www.adiac-congo.com. Retrieved 10 February 2025.
  13. ^ Ndungidi, Patrick (18 February 2021). "Makhtar Diop, nouveau Directeur Général et Vice-Président exécutif de la Société Financière Internationale". African Shapers (in French). Retrieved 10 February 2025.
  14. ^ "Warwick Economics graduate to head International Finance Corporation". warwick.ac.uk. Retrieved 10 February 2025.
  15. ^ "University of Ottawa - uOttawa Spring Convocation: Time to welcome our new Chancellor, confer Honorary Degrees and celebrate the Class of 2023". Education News Canada. Retrieved 10 February 2025.
  16. ^ a b "Makhtar Diop". About us. Retrieved 10 February 2025.
  17. ^ "Makhtar DIOP (Vice-président de la Banque mondiale en charge des Infrastructures) - aLome.com - Qui est qui ?". www.alome.com. Retrieved 10 February 2025.
  18. ^ "Senegal's Makhtar Diop is the New Managing Director & Executive Vice President of the International Finance Corporation". BellaNaija. 19 February 2021. Retrieved 10 February 2025.
  19. ^ Mbabazi, Eunniah (19 February 2021). "IFC Appoints Makhtar Diop as Managing Director and Executive Vice President". Kenyan Wall Street - Business, Markets & Finance Insights. Retrieved 10 February 2025.
  20. ^ Mondiale, Banque. "Le Sénégalais Makhtar Diop nommé Vice-président de la Banque mondiale pour l'Afrique". dakaractu.com (in French). Retrieved 10 February 2025.
  21. ^ "World Bank announces new Vice President for Africa". GhanaWeb. 7 May 2012. Archived from the original on 18 December 2024. Retrieved 10 February 2025.
  22. ^ Saldinger, Adva (19 February 2021). "First African IFC head pledges to focus on world's poorest countries". Devex. Retrieved 10 February 2025.
  23. ^ Olisah, Chike (18 February 2021). "World Bank Group appoints an African, Makhtar Diop as Managing Director, IFC". Nairametrics. Retrieved 10 February 2025.
  24. ^ a b Saldinger, Adva (18 February 2021). "Breaking: IFC announces new chief". Devex. Retrieved 10 February 2025.
  25. ^ "World Bank Announces Makhtar Diop as its New Vice-President for Africa". African Liberty. 7 May 2012. Retrieved 10 February 2025.
  26. ^ Mondiale, Banque. "Le Sénégalais Makhtar Diop nommé Vice-président de la Banque mondiale pour l'Afrique". DAKARACTU.COM (in French). Retrieved 18 February 2025.
  27. ^ "Le PDG D'IFC Makhtar Diop entame un séjour au Sénégal : Le développement du secteur privé sénégalais sera au menu des échanges avec les acteurs – Teranga News" (in French). 31 May 2024. Retrieved 18 February 2025.
  28. ^ "Makhtar Diop Appointed IFC Managing Director and Executive Vice President". World Bank. Retrieved 10 February 2025.
  29. ^ "Makhtar Diop Appointed IFC Managing Director and Executive Vice President". IFC. Archived from the original on 5 October 2024. Retrieved 10 February 2025.
  30. ^ Oluwole, Victor (18 February 2021). "It's another huge win for Africa as former Senegal finance minister Makhtar Diop is set to become the new head at IFC, World Bank". Business Insider Africa. Retrieved 10 February 2025.
  31. ^ Bloomberg (21 February 2021). "World Bank Makes Diop First African to Head Private Sector's IFC".
  32. ^ "World Bank names first African head of IFC private sector finance arm". Reuters. 18 February 2021.
  33. ^ Saldinger, Adva (22 February 2022). "Taking stock of Makhtar Diop's first year leading IFC". Devex. Retrieved 10 February 2025.
  34. ^ "The IFC's new approach to international development". www.thebanker.com. Retrieved 10 February 2025.
  35. ^ "Accelerating Sustainable Finance Episode 3: Financing the Net Zero Transition in Emerging Markets". World Economic Forum. Archived from the original on 24 January 2025. Retrieved 10 February 2025.
  36. ^ "Playing catch-up—is the golden age of emerging markets over?". The Economist. ISSN 0013-0613. Retrieved 10 February 2025.
  37. ^ Strohecker, Karin (24 September 2024). "World Bank's IFC investments hit record $56 bln in FY 2024, managing director says". Reuters.
  38. ^ "Creative Development with IFC". IFC. Retrieved 18 February 2025.
  39. ^ "Creative Development with IFC". Spotify. Retrieved 18 February 2025.
  40. ^ "Creative Development with IFC". Apple Podcasts. Retrieved 18 February 2025.
  41. ^ a b c d October 2023, Adva Saldinger // 23 (23 October 2023). "Lights, camera, but where's the action on IFC's creative investments?". Devex. Retrieved 18 February 2025.{{cite web}}: CS1 maint: numeric names: authors list (link)
  42. ^ Staff, Operawire (5 December 2022). "Pretty Yende Featured on 'Creative Development with IFC' Podcast". OperaWire. Retrieved 18 February 2025.
  43. ^ "Chimamanda Ngozi Adichie on Literature, Feminism, and Universality". IFC. Retrieved 18 February 2025.
  44. ^ "Anand Mahindra on Culture, Commerce and Community". IFC. Retrieved 18 February 2025.
  45. ^ "Transforming Bollywood: IFC advocates for filmmakers' intellectual property rights - CNBC TV18". CNBCTV18. 7 October 2024. Retrieved 18 February 2025.
  46. ^ Wavinya, Sarah (16 February 2022). "Kenya: IFC Managing Director Makhtar Diop Sits Down With Sauti Sol". AllAfrica.
  47. ^ Desk, SMEStreet Edit. "IFC's Latest Podcast Highlights Power of Creative Industries to Solve Development Challenges". smestreet.in. Retrieved 18 February 2025. {{cite web}}: |last= has generic name (help)
  48. ^ "Creative Development - The Shorty Awards". shortyawards.com. Retrieved 18 February 2025.
  49. ^ a b AHOUGNON, Servan. "Makhtar Diop, un économiste passionné d'Afrique à la tête de la Société financière internationale". Agence Ecofin (in French). Retrieved 18 February 2025.
  50. ^ February 2021, Adva Saldinger // 18 (18 February 2021). "Breaking: IFC announces new chief". Devex. Retrieved 18 February 2025.{{cite web}}: CS1 maint: numeric names: authors list (link)
  51. ^ Olatunji, Eniola (24 June 2024). "IFC under Makhtar Diop is faster, bolder". Businessday NG. Retrieved 18 February 2025.
  52. ^ Mondiale, Banque. "Le Sénégalais Makhtar Diop nommé Vice-président de la Banque mondiale pour l'Afrique". DAKARACTU.COM (in French). Retrieved 18 February 2025.
  53. ^ Wiriyapong, Nareerat (18 July 2022). "Funding the future". Bangkok Post. Retrieved 18 February 2025.
  54. ^ "Makhtar Diop". About us. Retrieved 18 February 2025.
  55. ^ "Les 50 influents : Makhtar Diop, vice-président de la Banque mondiale - Jeune Afrique.com". JeuneAfrique.com (in French). Retrieved 10 February 2025.
  56. ^ "Makhtar Diop, Regents' Lecturer". cega.berkeley.edu. Retrieved 10 February 2025.
  57. ^ Jere, Regina Jane (6 December 2017). "New African Magazine announces its 100 Most Influential Africans of 2017". New African Magazine. Retrieved 10 February 2025.
  58. ^ "Makhtar Diop élevé au rang de Commandeur dans l'ordre national du Lion". Seneweb.com (in French). 10 February 2025. Retrieved 10 February 2025.
  59. ^ "African Leaders Launch the African School of Governance (ASG) Initiative". Mastercard Foundation. Retrieved 10 February 2025.
  60. ^ "African School of Governance initiative launched". Nation. 23 October 2024. Retrieved 10 February 2025.
  61. ^ Oluwole, Victor (31 May 2024). "5 highly influential Africans leading top global organizations". Business Insider Africa. Retrieved 10 February 2025.
Quelle: https://en.wikipedia.org/wiki/Makhtar_Diop