By BUUMBA CHIMBULU
A ZAMBIAN, Samuel Maimbo, to a top position as director at the World Bank, a development which has elated Government.
Dr Maimbo assumed duties as director in charge of International Development Assistance (IDA) mobilisation, and International Bank for Reconstruction and Development (IBRD) Corporate Finance, on July 1, this year.
Finance Minister, Bwalya Ng’andu, said this appointment has elated Government.
A University of Zambia graduate and a former Bank of Zambia employee, DrMaimbo joined the World Bank Group in 2001 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 implement the IDA policy framework with particular attention to supporting countries responses to Covid-19.
He will also be expected to oversee the continued implementation of IDA’s hybrid financial model and assuring overall integrity of IDA finances.
Dr Maimbo will maintain IBRD financial sustainability and capacity, with particular attention to policies affecting its capital adequacy, income generating capacity and balance sheet management.
Dr Ng’andu said the worthy appointment of Dr Maimbo demonstrated the confidence that the World Bank Group has in his talents and competency to deliver results.
“He 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,” he said in a statement.
Zambia is currently implementing over 25 projects financed by the World Bank Group through grants and loans valued at over US$1.1 billion.
The projects are in agriculture, energy, infrastructure, trade development, and water and sanitation sectors.
Others are in health, education, and climate resilience.