Innovative Financial Solutions for Today’s Development Challenges
April 14, 2016World Bank Headquarters, Washington D.C.

This event focused on different financing approaches to the mounting challenges being faced by World Bank Group member countries.


This event focused on the current global economic environment, in which World Bank Group member countries are facing mounting challenges - commodity price declines, slower global growth, and forced displacement among others. Countries need to be innovative in their response. The panel discussed different financing approaches to some of these current problems, including how leveraging financing solutions from the World Bank Group and other development partners could help. 

Panel participants:

- Mark Lowcock, Permanent Secretary, Department for International Development, United Kingdom
- The Honourable Sahar Nasr, Minister of International Cooperation, Egypt
- Arunma Oteh, Vice President and Treasurer, World Bank Group
- Kyle Peters, Senior Vice President, Operations, World Bank Group
- Nena Stoiljkovic, Vice President of Global Client Services, IFC

Moderator:  Alan Gelb, Senior Fellow and Director of Studies, Center for Global Development

Watch the video


Last Updated: Apr 15, 2016



Mark Lowcock
Permanent Secretary, Department for International Development, United Kingdom

Mark Lowcock began his career in DFID (formally the Overseas Development Administration) in 1985 and occupied the following roles: Private Secretary to Baroness Chalker, Minister for Overseas Development; Deputy Head and latterly Head of the DFID Regional Office for Central Africa; Head of the European Union Department; and Head of the DFID Regional Office for East Africa.

Lowcock also served as Director, Finance and Corporate Performance; Director General, Corporate Performance and Knowledge Sharing; Director General, Policy and International; and Director General, Country Programmes.

Sahar Nasr
Minister of International Cooperation, Egypt

Her Excellency Dr. Sahar Nasr was sworn in as the Egyptian Minister of International Cooperation on September 19, 2015. She is a Professor of Economics at the American University in Cairo and a lecturer at several Egyptian and foreign universities. She is the National Coordinator of the National Committee for the Follow-Up on the Implementation of the Sustainable Development Goals. Nasr also serves as Governor of Egypt to several institutions such as The World Bank, The European Bank for Reconstruction and Development, The Arab Bank for Economic Development in Africa, and The Asian Infrastructure Investment Bank.

Nasr has also been a member of the Economic Development Council of the Presidential Office. She was granted the 2015 prize for the most influential woman in the Arab economic sector.


Arunma Oteh
Vice President and Treasurer, World Bank Group

Arunma Oteh joined the World Bank as Vice President and Treasurer in September 2015. She leads a large and diverse team responsible for managing more than $150 billion in assets, and borrowing in more than 20 currencies around the world. 

Oteh most recently served as the Director General of the Securities and Exchange Commission of Nigeria. She was a member of the Board of the International Organization of Securities Commissions (IOSCO) and the Chairperson of the Africa Middle East Regional Committee of IOSCO. Prior to joining SEC Nigeria, Oteh was Group Vice President from 2006 to 2009 and Group Treasurer from 2001 to 2006 at the African Development Bank Group (AfDB)

In 2011, in recognition of her contributions to economic development and to transforming the Nigerian capital markets, she was awarded the Officer of the Order of the Niger national honor. She was also named the African Investor Capital Market Personality of the Year in 2014.


R. Kyle Peters
Senior Vice President, Operations, World Bank Group

Kyle Peters oversees the Operations Vice Presidencies of the World Bank. He also oversees the World Bank Group’s Cross-Cutting Solutions Areas, including climate change, gender, public-private partnerships, and fragility, conflict and violence.

Before taking up this position, Peters was the Vice President for Operations Policy and Country Services (OPCS), responsible for the World Bank’s policies and procedures for operations and change initiatives to improve and streamline the way the Bank provides support to countries.

He has held several other key managerial positions including Director, Strategy and Operations for the Europe and Central Asia Region, and Director of Strategy and Country Services, OPCS. He was also Senior Manager in the Bank’s Independent Evaluation Group and Sector Manager for economic policy in Eastern and Central Europe.


Nena Stoiljkovic
Vice President, Global Client Services, IFC

Nena Stoiljkovic is a Vice President of Global Client Services and one of two vice presidents responsible for IFC Operations.

Before taking up this position, Ms. Stoiljkovic was a co-World Bank Group Vice President for Global Practices and Cross-Cutting Solution Areas. Established on July 1, 2014 to bring global expertise to help government clients tackle their most significant development challenges, the start-up year involved setting up a new leadership team and new operating model. Among her other previous managerial positions are the Vice President for IFC Advisory Services and IFC’s Director for Eastern Europe and Central Asia. Under her leadership, IFC supported the banking sector in a region particularly hard hit by financial crisis and contributed to its recovery in close cooperation with the World Bank.

Prior to joining IFC, Ms. Stoiljkovic worked as a consultant at the Economic Institute of Belgrade.


Alan Gelb
Senior Fellow and Director of Studies, Center for Global Development

Alan Gelb's recent research includes the implications of the spread of digital ID systems for development and applications of biometric ID technology in the context of the Sustainable Development Goals. Other areas include growth and economic diversification in Sub-Saharan Africa, the special development challenges of resource-rich countries, and the design and implementation of results-based aid. He has written extensively on these topics. 

Prior to joining the Center he was Director of Development Policy at the World Bank and Chief Economist for the Bank’s Africa region.  He also held the position of Staff Director for the 1996 World Development Report “From Plan to Market.”

Last Updated: Apr 11, 2016

  • When: April 14, 2016 2pm - 3:30pm EST
  • Where: World Bank Headquarters, Washington, DC Rm: MC2-800