The World Bank group Executive Director for Liberia Dr. Louis Rene Peter Larose arrives arrived here Sunday August 7, for a five-day official visit aimed at reviewing the political, economic issues, development, infrastructure, and post-conflict challenges, as well as World Bank Group support.
Dr. Larose is accompanied by a senior advisor, Dr. Anthony Barclay, a Liberian with over 30 years of development experience. While in Liberia, Dr. Larose, a national of Seychelles, will meet and hold discussions with President Ellen Johnson Sirleaf, Minister of Finance and Development Planning Boima Kamara, Executive Governor of the Central Bank of Liberia Milton Weeks, other senior officials of the Liberian Government, and hold discussions with the World Bank Group family in Liberia.
Appointed to this position on November 1, 2014, Dr. Larose also serves as Executive Director for the following countries: Botswana, Burundi, Eritrea, Ethiopia, The Gambia, Kenya, Lesotho, Malawi, Mozambique, Namibia, Rwanda, Seychelles, Sierra Leone, Somalia, South Sudan, Sudan, Swaziland, Tanzania, Uganda, Zambia, and Zimbabwe.
Executive Directors of the World Bank Group are responsible for the conduct of the general operations of the Bank and exercise all the powers delegated to them by the Board of Governors under the Articles of Agreement.
The Executive Directors of the Bank serve ex officio as Directors of International Finance Corporation (IFC) and Executive Directors of International Development Association (IDA), as long as the country that appoints them, or any one of the countries that have elected them, is a member of IFC and IDA. All members of the Multilateral Investment Guarantee Agency (MIGA) Board of Directors are elected. The Executive Directors fulfill their duties through various types of engagements: Provide overall guidance to Management on strategic directions and on corporate, regional, country-level and thematic issues.
Exercise oversight over operational, financial, and institutional matters, selection and accountably of senior management, and risk management functions. Approve the use of financial resources by all World Bank Group (WBG) entities, including operational and capital budgets, International Bank for Reconstruction and Development (IBRD) and IDA loans, credits, guarantees, and grants, IFC investments, and MIGA guarantees, and decide on policies presented by management that impact the organization’s general operations and use of resources.-Press release