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PRESS RELEASE October 1, 2019

Axel van Trotsenburg Appointed World Bank Managing Director of Operations

WASHINGTON, October 1, 2019—World Bank Group President David Malpass today announced that he has appointed Axel van Trotsenburg as World Bank Managing Director of Operations.

“As we build the World Bank Group leadership team, Axel brings deep experience in regional operations and finance as well as an unwavering commitment to the Bank’s urgent mission,” said Malpass. “Underpinned by the vital support of our shareholders, and with a proven track record, I am confident that Axel will help lead our partner countries toward strong development outcomes.”

A Dutch and Austrian national, van Trotsenburg has been Acting World Bank CEO since September 2.  He previously served as World Bank Vice President for Latin America and the Caribbean, a position he has held since February 2019.

In his new role, van Trotsenburg will oversee the Bank’s operational program and ensure that the Bank’s delivery model continues to meet the urgent needs of client countries.  To create better opportunities for the world’s most vulnerable people, van Trotsenburg will harness his demonstrated ability to build support across the international community for poor and middle-income countries.

In a previous role as the World Bank Vice President of Development Finance (DFI), van Trotsenburg oversaw strategic mobilization of resources, and was responsible for the replenishment and stewardship of IDA, the Bank’s fund for the world's poorest countries. He led the policy negotiations and replenishment process for two IDA replenishments, which together mobilized $125 billion—$50 billion in 2010 for IDA16 and $75 billion in 2016 for IDA18.  IDA18 scaled up its engagement in fragile countries and in promoting private sector development by introducing the IDA18 IFC-MIGA Private Sector Window.

Apart from his role overseeing IBRD corporate finances, van Trotsenburg co-led the World Bank Group's efforts to obtain a capital increase, which resulted in shareholders endorsing a policy and financing package in April 2018 that included a boost in paid-in capital of $13 billion for IBRD and IFC. At that time, he also co-chaired the successful replenishment negotiations for the Global Environment Facility (GEF). He was responsible for a multibillion-dollar trust fund portfolio and guided trust fund reforms.

Mr. van Trotsenburg has had extensive experience in country operations and managing regional programs, including in Africa, among other regional and country positions. Mr. van Trotsenburg served as Vice President for the East Asia and Pacific Region from 2013 to 2016. From 2009 to 2013, he served as Vice President for Concessional Finance and Global Partnerships.

From 1996 to 2001, van Trotsenburg was the manager and then Senior Manager of the Heavily Indebted Poor Countries (HIPC) Initiative, the debt relief program for poor countries. In this capacity, he was responsible, with his IMF counterparts, for the design of the debt relief framework as well as the delivery of debt relief packages of about $30 billion for 20 countries.

Mr. van Trotsenburg’s appointment begins October 1, 2019.



David Theis
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