Makhtar Diop

Diop was born on June 27, 1960, in Dakar, Senegal. Diop obtained a master's degree in Finance from a Grande Ecole in France. He also obtained master's degrees in economics at the University of Warwick (MSc) and the University of Nottingham (MPhil) in the United Kingdom. In June 2023, he was awarded an Honorary Doctorate from the University of Ottawa for his contributions to economic development and finance.

Early career

Diop began his career as a financial analyst. From 1986 to 1993, he served as a technical advisor to the Senegalese Ministry of Economy and Finance. He also worked as an economist at the International Monetary Fund (IMF) between 1997 and 2000.

Minister of Economy and Finance, 2000–2001

In April 2000, Diop was appointed Minister of Finance and Economy of Senegal under Prime Minister Moustapha Niasse and President Abdoulaye Wade, making him the youngest person to hold this position in the country's history. Diop chaired the Council of Ministers of the West African Economic and Monetary Union. He played a key role in restructuring the country's Customs and Treasury departments (ref 19, 20). He also launched Senegal’s first "Sovereign Debt Credit Rating" with Standard and Poor’s, the first in Sub-Saharan Africa outside of South Africa. He also played a role in initiatives associated with the Omega Plan MRAP and the New Partnership for Africa’s Development (NEPAD).

The World Bank

Diop joined the World Bank in October 2001 (ref 22). He was Country Director for Kenya, Somalia, and Eritrea; Sector Director for Finance, Private Sector and Infrastructure for Latin America and the Caribbean; Director of Operations and Strategy for Latin America and the Caribbean; and Country Director for Brazil from 2009 to 2012. The World Bank's Country Partnership Strategy (2012–2015) for Brazil was developed under Diop's leadership.

On May 1, 2012, Diop was appointed by World Bank President Robert Zoellick as the institution's vice president for Africa, responsible for Sub-Saharan countries. In this role, Diop oversaw the institution’s strategy and delivery of $70 billion in funding to promote economic growth, reduce poverty, and enhance resilience across the continent. He was instrumental in expanding financial inclusion programs, especially in rural regions, and in leading infrastructure projects that addressed energy deficits and transportation challenges.

On July 1, 2018, Diop was appointed vice president for Infrastructure at the World Bank. He oversaw the World Bank portfolio for Energy & Extractives, Transport, Digital Development, Infrastructure Finance, Public-Private Partnerships (PPPs), and Guarantees.