Home Zambia News Dr Samuel Muzele Maimbo has been appointed as a director of the...

Dr Samuel Muzele Maimbo has been appointed as a director of the World Bank

International Monetary Fund in Washington, DC

The appointment of Dr Samuel Muzele Maimbo as a Director in the World Bank Group has elated the Zambian Government, Finance Minister Bwalya Ng’andu has said.

Dr Maimbo, a Zambian national, assumed duties as Director in charge of International Development Assistance mobilisation, and International Bank for Reconstruction and Development Corporate Finance, on 1st July 2020.

A University of Zambia graduate and a former Bank of Zambia employee, Dr Maimbo joined the World Bank Group in 2001 as a young professional and rose through the ranks until his most recent assignment as Senior Advisor to the World Bank Managing Director and Chief Financial Officer.

In the new position, Dr Maimbo will be expected to: implement the IDA policy framework with particular attention to supporting countries responses to Covid-19; oversee the continued implementation of IDA’s hybrid financial model and assuring overall integrity of IDA finances; and, maintain IBRD financial sustainability and capacity, with particular attention to policies affecting its capital adequacy, income generating capacity, and balance sheet management.Zambian government requests for emergency financing from IMF

Dr Ng’andu says the meritorious appointment of Dr Maimbo demonstrates the confidence that the World Bank Group has in his talents, capacity, and competency to deliver results. “He is a symbol of inspiration for many young professionals in Zambia, who need to know that with career focus and hard work, internationally competitive professional development is attainable.”

The Minister of Finance has wished Dr MAIMBO well in his challenging portfolio of planning, mobilizing, and ensuring the financial sustainability of the International Development Assistance and international Bank for Reconstruction and Development.

Zambia is currently implementing over twenty-five (25) projects financed by the World Bank Group through grants and loans valued at over USD1.1 billion. The projects are in agriculture, energy, infrastructure, trade development, and water and sanitation sectors. Others are in health, education, and climate resilience.

This is according to a statement issued by Ministry of Finance spokesperson Chileshe Kandeta.