Finance Minister says the appointment of a Zambian national to a top World Bank Position demonstrates the confidence the Bank has in his talents, capacity, and competency to deliver results.
In a statement issued to Money FM News, Dr. Bwalya Ng’andu also said “the commendable appointment of Dr Samuel Maimbo as Director in the World Bank Group is a symbol of inspiration for many young professionals in Zambia, who need to know that with career focus and hard work, internationally competitive professional development is attainable.”
Dr. Ng’andu wished Dr Maimbo well in his challenging portfolio of planning, mobilizing, and ensuring the financial sustainability of the International Development Assistance and international Bank for Reconstruction and Development.
Dr Maimbo, is a Zambian national who assumed duties as Director in charge of International Development Assistance (IDA) mobilization, and International Bank for Reconstruction and Development (IBRD) Corporate Finance, on 1st July 2020.
Dr Maimbo who is also a University of Zambia graduate and a former Bank of Zambia employee, joined the World Bank Group in 2001 as a young professional and rose through the ranks until his most recent assignment as Senior Advisor to the World Bank Managing Director and Chief Financial Officer
In the new position, Dr Maimbo will be expected to implement the IDA policy framework with particular attention to supporting countries responses to Covid-19; oversee the continued implementation of IDA’s hybrid financial model and assuring overall integrity of IDA finances; and, maintain IBRD financial sustainability and capacity, with particular attention to policies affecting its capital adequacy, income generating capacity, and balance sheet management.
Zambia is currently implementing over 25 projects financed by the World Bank Group through grants and loans valued at over US$1.1 billion and the projects are in agriculture, energy, infrastructure, trade development, water and sanitation, climate resilience, health, and education sectors.