Makhtar Diop

Makhtar Diop is IFC’s Managing Director of the International Finance Corporation (IFC), the largest development institution focused on the private sector in emerging markets and developing economies. In this role, which he assumed on March 1st, 2021, Mr. Diop promotes private sector-led development to advance the World Bank Group's mission of reducing poverty and boosting shared prosperity on a livable planet.

His tenure has been marked by a strategic focus on creating sustainable, inclusive growth that addresses global challenges such as poverty, inequality, and climate change.

To achieve these goals, Mr. Diop has emphasized the importance of scaling investments in critical sectors like infrastructure, digital economy, healthcare, and renewable energy. He champions innovative financing solutions, leveraging the power of blended finance, de-risking mechanisms, and public-private partnerships to attract private capital to high-impact projects. This approach has enabled the IFC to mobilize billions of dollars in investments, particularly in regions with limited access to capital and those affected by conflict.

Under Mr. Diop's guidance, the IFC has also prioritized financial and economic inclusion, working to expand access to financial services for women, small businesses, and rural communities. His commitment to digital transformation has led to increased investments in fintech and digital infrastructure, helping to bridge the digital divide and foster innovation in emerging markets.

Sustainable development has been a key priority under Mr. Diop's leadership. The IFC has significantly increased its investments in projects that promote environmental responsibility, foster long-term resilience, and reduce environmental impact. He has highlighted the importance of supporting initiatives that contribute to sustainable growth and help communities adapt to a changing climate.

Prior to joining the IFC, Mr. Diop served as the World Bank's Vice President for Infrastructure from 2018 to 2021, where he led the Bank's global efforts to build sustainable infrastructure in developing and emerging economies. Before that, he served for six years as the World Bank's Vice President for Africa, overseeing the delivery of a record-breaking USD 70 billion to Sub-Saharan Africa to help tackle development challenges.

Mr. Diop's career spans both the public and private sectors. He started his career in the banking industry before joining the IMF and later the World Bank. He also served as Minister of Economy and Finance of Senegal, where he played a key role in instituting structural reforms that helped build a strong foundation for Senegal's growth in the late 1980s.

A recognized opinion leader in economic and social development, Makhtar Diop has been named one of the 100 most influential Africans in the world. In 2015, he received the prestigious Regents' Lectureship Award from the University of California, Berkeley.

Mr. Diop holds degrees in economics from the Universities of Warwick and Nottingham in England.