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PRESS RELEASE October 26, 2018

World Bank Appoints Jingdong Hua as Treasurer

Washington, DC, October 26, 2018—The World Bank has appointed Jingdong Hua Vice President and Treasurer. The appointment is effective on January 1, 2019.

In his role as World Bank Treasurer, Mr. Hua will be responsible for the World Bank's US$200 billion debt portfolio and an asset portfolio of nearly US$200 billion managed for the World Bank Group and 65 clients including central banks, pension funds, and sovereign wealth funds. He will oversee a derivatives portfolio of US$600 billion for hedging and risk management, and payments and annual cashflows of over US$7 trillion equivalent. He will also lead the World Bank Treasury’s training and advisory services in analytics, debt management, asset management, and financial solutions for its clients.

Mr. Hua will be responsible for the debt issuance of the World Bank (International Bank for Reconstruction and Development, IBRD, Aaa/AAA) and the International Development Agency (IDA, Aaa/AAA). His priority will be to safeguard the institutions’ respective triple-A ratings, to maintain the World Bank’s standing as a premier issuer and innovator in the global capital markets, and to ensure the prudent and successful growth of IDA's borrowing program. In addition, he will oversee capital markets operations for the International Finance Facility for Immunization (IFFm, AA/Aa1/AA) for which the World Bank Treasury is the Treasury Manager.

“I am very pleased to announce the appointment of Jingdong Hua as Treasurer of the World Bank,” said World Bank Group President Jim Yong Kim. “Jingdong will continue to contribute to the delivery of our twin goals by stewarding the World Bank's assets with a priority to safeguard our international triple-A ratings, manage our liquidity assets with prudence, maintain our standing as a premier issuer and innovator in the global capital markets, and provide capacity building and advisory services to our client countries.”

Mr. Hua is currently Vice President and Treasurer at IFC, a sister organization of the World Bank. Since joining IFC in 2011, he has led a global team of capital market professionals to deliver innovative products and solutions to finance sustainable private sector development. Prior to joining IFC, he served as Deputy Treasurer at the Asian Development Bank (ADB) in Manila and held a number of positions in the treasury departments of the ADB, the United Nations Development Program in New York, and the African Development Bank in Abidjan.

A Chinese national, Mr. Hua holds a B.S. in Chemical Engineering from Qingdao University of Science and Technology, an MBA in Finance from the University of Texas at Arlington, and a Master of Public Administration (MPA) from Columbia University.

The World Bank has been issuing sustainable development bonds in the international capital markets for over 70 years to fund programs and activities that achieve a positive impact. With annual issuances between US$50-US$60 billion annually, all World Bank bonds finance programs that support the Sustainable Development Goals. A key priority for the World Bank’s engagement in the capital markets is to build strategic partnerships with investors to raise awareness for the role of private sector financing in development.

IDA launched its borrowing program in April 2018 with a US$1.5 billion benchmark bond that raised funding for some of the most pressing development issues. Proceeds of IDA bonds support the financing of sustainable development projects and programs in IDA’s eligible member countries. Projects and programs supported by IDA are designed to achieve a positive social impact and undergo a rigorous review and internal approval process aimed at safeguarding equitable and sustainable economic growth.

IFFIm issues Vaccine Bonds in the capital markets to convert long-term pledges from governments into immediate cash resources for developing countries. Government pledges repay IFFIm bonds. IFFIm bonds have raised more than US$ 6.5 billion in immediately available cash resources for immunization programs delivered by the Gavi, the Vaccine Alliance.



Washington DC
Alexandra Klopfer
(202) 458-5186