Gevorg Sargsyan new World Bank Group Country Manager for Sri Lanka

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Gevorg Sargsyan the World Bank Group Country Manager for Sri Lanka -Handout

COLOMBO — The World Bank on Monday (July 1) announced the appointment, Gevorg Sargsyan as the World Bank Group Country Manager for Sri Lanka, a position newly created to unify country-level leadership across the institution to better support Sri Lanka’s public and private sector priorities.

The Group Country Manager position provides a single point of contact for access to the full breadth of World Bank Group products and services and will enhance the institutions’ ability to address global challenges, and drive development with speed, efficiency, and impact, the World Bank said in a statement on Monday.

It quoted Sargsyan as saying, “Sri Lanka is navigating a unique set of challenges, marked by its journey towards economic recovery, heightened poverty and the impacts of climate change, all of which necessitate substantial reforms to protect its economy and people. My priority is to strengthen the dynamic collaboration among the Bank Group institutions in Sri Lanka, to improve our speed and make us a better partner to the government, the private sector, and the Sri Lankan people to support in overcoming the current challenges and building a prosperous and resilient country.”

The statement also noted that in Sri Lanka the  World Bank Group works to help implement foundational reforms that restore macroeconomic stability and sustainability, mitigate the impact of current and future shocks on the poor and vulnerable, and support an inclusive and private-sector-led recovery and growth path. These priorities, it said, were reflected in the World Bank Group’s Country Partnership Framework for Sri Lanka for 2024-2027.

Sargsyan, an Armenian national, joined the World Bank in 2000, bringing over two decades of diverse experience to the role. His career at the World Bank includes serving in various capacities, notably as Country Manager and Manager of Operations in Europe, Central Asia and East Asia, as well as Program Manager for Climate Finance and Global Lead for Clean Energy. His most recent assignment was as Country Manager for Ukraine, based in Kyiv.

The introduction of joint country representation, the statement pointed out, was an important step towards building a stronger World Bank Group, which has a bold vision of creating a world free of poverty on a liveable planet.  Sri Lanka is one of 21 World Bank Group offices transitioning to a single World Bank Group Country Manager or Resident Representative for the International Bank for Reconstruction and Development (IBRD), the International Development Association (IDA), the International Finance Corporation (IFC), and the Multilateral Investment Guarantee Agency (MIGA).

In more than 100 countries, the World Bank Group provides financing, advice, and innovative solutions that improve lives by creating jobs, strengthening economic growth, and confronting the most urgent global development challenges. It is one of the largest sources of funding and knowledge for developing countries and consists of the World Bank, including the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA); the International Finance Corporation (IFC); the Multilateral Investment Guarantee Agency (MIGA); and the International Centre for Settlement of Investment Disputes (ICSID).

-WB/ENCL

 

 

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