MONEYWATCH

Zimbabwean Callisto Madavo, named World Bank'svice president, Africa Region

Special to USAfricaonline.comand USAfrica The Newspaper

Sub-Saharan Africa, one of the regions of special focus for theWorld Bank has a Zimbabwean national as its new vice president.President James D. Wolfensohn has announced that Callisto Madavo"will have sole responsibility for the Bank's work in Africa",beginning May 1, 2000. He has been with the bank since1969.

Prior to the announcement, he shared responsibility for the 47Sub-Saharan countries with Jean-Louis Sarbib, who will now assumeresponsibility for the Bank's Middle East and North Africa Region."Having one Vice President instead of two will be a naturalfollow-through to the very successful efforts all of us have madesince 1996 to build a strong organization serving Africa along newlines," said Madavo and Sarbib. "Furthermore, both of us see thischange as a personal opportunity to serve all of Africa-North andSouth-with the common experience, perspectives and values which wehave developed, working on Sub-Saharan Africa."

The U.S.-educated Madavo attended the University of Notre Dame,where he received his B.A., M.A., and Ph.D. in Economics. He wasappointed to his present position as co-Vice President of the AfricaRegion in April 1996. The new position was announced on February 7,2000

The World Bank notes it has a satff of 1,400 in the Africa Region,its largest organizational unit and "the largest single group ofspecialists in the world serving the continent's development." Sixtypercent of its staff (850) are African.

The Bank has done very well in promoting and backing developmentprojects as well come under severe criticism for some programs whichare said to lack proper relationship with the core needs andenvironment of Africa. Hopefully, Madavo will enhance the focus andoutcome of the World bank in parts of sub-Saharan Africa which havesuffered from the infamous "conditionalities" which has come intoplace in its collaborations with the International Monetary Fund.
ByChidoNwangwu. USAfricaonline will welcome and publish commentaries on theWorld Bank and Africa. Regular e-mail text will be our preference.

 



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