World Bank unit in new management

WASHINGTON – The new head of the World Bank’s private-sector lending arm, Lars Thunell, on Thursday announced a management overhaul he said would improve the agency’s effectiveness in developing markets.

“Given the growth of the IFC and the need for greater decentralisation, I have decided that the organisation needs to be adjusted accordingly,” said Thunell. Thunell is the International Finance Corp.’s executive vice president, who was appointed by World Bank President Paul Wolfowitz last year.”I have proposed a realignment of the IFC’s operational team of senior managers along regional and industry lines, and our board of directors has endorsed this plan,” he said.He named Farida Khambata as regional vice president for Asia and Latin America; Edward Nassim as regional vice president for Europe, Africa and the Middle East, and Declan Duff as vice president for industries.- Nampa-ReutersThunell is the International Finance Corp.’s executive vice president, who was appointed by World Bank President Paul Wolfowitz last year.”I have proposed a realignment of the IFC’s operational team of senior managers along regional and industry lines, and our board of directors has endorsed this plan,” he said.He named Farida Khambata as regional vice president for Asia and Latin America; Edward Nassim as regional vice president for Europe, Africa and the Middle East, and Declan Duff as vice president for industries.- Nampa-Reuters