W/Bank Official On Five Day Visit
-Arrives In Liberia
The World Bank Group Executive Director for Liberia, Mr. Andrew N. Bvumbe, arrived in Liberia on Saturday, June 30, 2018 for a five-day official visit.
During the visit, Mr. Bvume is expected to discuss opportunities to promote growth, value additions and economic diversification; he will also visit project sites.
According to a dispatch issued in Monrovia by the Bank, the Executive Director Bvumbe will be accompanied by one of his advisors, Mr. Lamin Bojang, 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 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.
They 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 has 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, including providing overall guidance to management on strategic directions and on corporate, regional, country-level and thematic issues.
They exercise oversight over operational, financial, and institutional matters, selection and accountability of senior management, and risk management functions; 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.