Maimbo appointed director at World Bank

FINANCE minister Bwalya Ng’andu has described newly appointed director at the World Bank, Samuel Maimbo as a symbol of inspiration to young Zambian professionals.

On July 1, Dr Maimbo assumed duties as director in charge of International Development Assistance (IDA) mobilisation, and International Bank for Reconstruction and Development (IBRD) corporate finance.

According to a statement released yesterday by Ministry of Finance spokesperson Chileshe Kandeta, Dr Ng’andu wished Dr Maimbo success in his new role.

“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,” said Dr Ng’andu.

A University of Zambia graduate and former Bank of Zambia employee, Dr Maimbo joined the World Bank Group in 2001 as a young professional.

He rose through the ranks until his most recent assignment as senior advisor to the World Bank managing director and chief financial officer.

Kandeta stated that in the new position, Dr Maimbo would be expected to, among other things, implement the IDA policy framework with particular attention to supporting countries’ responses to COVID-19.

He stated that Dr Maimbo would also oversee the continued implementation of IDA’s hybrid financial model and assuring overall integrity of its finances.

Zambia is currently implementing over 25 projects financed by the World Bank Group through grants and loans valued at over US $1.1 billion.

Some of the projects are in agriculture, energy, infrastructure, trade development, and water and sanitation sectors.

Others are in health, education, and climate resilience.

The country is also eligible for International Bank for Reconstruction and Development (IBRD) loans and IDA credits and grants, from the World Bank Group.

The World Bank’s latest approved projects for Zambia include the $100 million for transforming landscapes for resilience and development, and the $90 million for the CDC regional investment financing project.

Others are the $142 million for the girls’ education and women empowerment and livelihood project, the $120 million for the Zambia education enhancement project, and the $30 million irrigation development & support project.

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