World Bank appoints new Kenya director

A section of Nairobi.
A view of Kenya's capital Nairobi and inset, the new World Bank director for Kenya Felipe Jaramillo. FILE PHOTO | NMG 

The World Bank has appointed Felipe Jaramillo as the new country director for Kenya.

Mr Felipe, a Colombian economist, was previously the World Bank senior director of Macroeconomics, Trade and Investment Global Practice, leading a team over 450 economists.

Aside from Kenya, his jurisdiction covers Uganda, Rwanda and Eritrea where he is expected to oversee investment projects valued in excess of Sh1.2 trillion ($12 billion).

“Under his leadership, the World Bank will continue supporting inclusive growth and poverty reduction through a wide array of financial products and technical assistance,” the bank said in a statement on Thursday.

Extreme poverty


His appointment comes days after the World Poverty Clock report ranked Kenya eighth globally on extreme poverty list, an area he will be expected to focus on.

The new country boss, who holds a PhD in Development Economics from Stanford University, takes over from Diarietou Gaye, now appointed Africa’s director of Strategy and Operations.

Mr Felipe joined the multilateral lender in 2002 and has in the past served as country director in Latin America and the Caribbean.

Prior to joining World Bank, he was a civil servant in the government of Colombia, holding offices in the Ministry of Finance, the Central Bank and the Ministry of Trade.

'Big 4' agenda

He at some point taught at the Department of Economics of the Universidad de Los Andes in Bogota and at the University of Maryland, College Park.
“In Kenya, the World Bank remains committed to working with public and private sector stakeholders to support policy and investment opportunities that enhance inclusive growth and the attainment of the Government’s “Big 4” medium-term development priorities,” the lender said.