New Delhi [India], February 21 : The World Bank Group has appointed Wencai Zhang as Managing Director and World Bank Group Chief Administrative Officer.
The announcement, made on Tuesday, underscores the organization's commitment to driving transformative change and enhancing operational efficiency in pursuit of its mission to end poverty and foster sustainable development worldwide.
World Bank Group President Ajay Banga expressed confidence in Zhang's appointment, highlighting his extensive experience in development and Multilateral Development Banks (MDBs).
Banga said, "Wencai will bring to the Bank his wealth of strategic and operational experience in development and with Multilateral Development Banks. I am very pleased that he will help us implement the new Bank vision of ending poverty on a livable planet."
In his new role, Wencai Zhang will be tasked with overseeing the transformation of critical functions within the Bank Group, including Budget, Planning, Strategy, and Information Technology Services.
He will work to ensure that the organization's budget and IT resources are utilized most effectively, aligning with the Bank's overarching objectives.
Additionally, Zhang will manage several corporate units, including corporate procurement, general services, security, health, and safety, as well as the Sanctions System.
Bringing a wealth of experience to his new position, Wencai Zhang, a Chinese national, previously served as Vice President at the Export-Import Bank of China.
He also holds the role of Trustee of the International Financial Reporting Standards (IFRS) Foundation, underscoring his commitment to promoting international accounting and sustainability standards globally.
Over the past decade, Zhang has held key leadership roles, including Vice President at the Agricultural Development Bank of China (ADBC), where he played a pivotal role in driving agricultural development initiatives.
He also served as Vice President at the Asian Development Bank (ADB), leading operations in South, Central, and West Asia while promoting knowledge sharing and the adoption of innovative technologies.
Additionally, Zhang served as Director-General for the Department of International Economic and Financial Cooperation at the Chinese Ministry of Finance.
Zhang's illustrious career began with his tenure as a staff member in the World Bank Department at the Chinese Ministry of Finance, where he later served as Advisor to the Executive Director for China at the World Bank Group.
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