World Bank Names New Director For Kenya, Other East Africa Countries

• The World Bank has appointed Qimiao Fan as the new director for Kenya, Rwanda, Somalia, and Uganda, effective September 1, 2024
• Fan succeeds Keith Hansen, who held the position since September 2020 and will be based at the World Bank's regional office in Nairobi
• Qimiao Fan, a Chinese national with over 35 years of development experience, will oversee the World Bank’s support programme for the four countries

Elijah Ntongai, a journalist at TUKO.co.ke, has more than three years of financial, business, and technology research expertise, providing insights into Kenyan and global trends.

The World Bank has named Qimiao Fan as the new director for Kenya, Rwanda, Somalia, and Uganda.

Qimiao's appointment was announced on Monday and took effect on September 1, 2024.

Fan replaces Keith Hansen, an American national who had served in the same role since September 2020.

“Fan, who has over 35 years of experience in development practice, will oversee the design and implementation of the World Bank’s support programme to the four countries that has an active portfolio consisting of 102 projects totaling $17.2 billion (about KSh 2.22 trillion),” the bank said in a statement.

The World Bank's regional office in Nairobi will serve as the base for Fan.

Who is Qimiao Fan?

Fan, a Chinese national, joined the World Bank in 1991 and has held numerous leadership roles across different regions.

These include Country Manager for Cambodia, Country Director for several countries in Europe, Central Asia, and South Asia, and Director of Strategy and Operations in various capacities.

Before the World Bank, Fan worked as a researcher at the London School of Economics and the Jiangxi Institute of Finance and Economics in China.

He also gained private sector experience as a senior executive in China.

Fan holds a PhD in Economics from the University of Birmingham, England, and has published works on investment climate, private sector development, finance, and transition economies.

How is Kenya and World Bank's relationship?

Fan will manage Kenya's relationship with the World Bank, which has come under criticism from the Kenyan public due to the strenuous public debt.

The relationship with Kenya is more crucial for the country due to increased reliance on the lender's support following recent protests that derailed government plans to broaden the tax base and raise more revenues.

Recently, TUKO.co.ke reported that the World Bank approved a KSh 27 billion loan for Kenya, including a KSh 4.3 billion grant for last-mile electricity connectivity, in May 2024. Further funding is expected over the next two years.

The World Bank has also served as one of Kenya's economic policy advisors, and recently, the lender advised President William Ruto against frequent tax policy changes.

World Bank revealed that foreign direct investment (FDI) inflows have been underperforming in Kenya due to frequent tax policies.

Proofreading by Otukho Jackson, a multimedia journalist and copy editor at TUKO.co.ke