The World Bank has announced the appointment of economist Zafer Mustafaoglu as Country Director for the Philippines, Malaysia, and Brunei Darussalam, effective July 1, 2024.
Mustafaoglu, a Turkish national, will oversee the World Bank's program of support in the three countries, advancing the institution's policy dialogues with government officials, civil society, academia, the private sector, and other key stakeholders.
“I am deeply honored to assume the role of Country Director for the Philippines, Malaysia, and Brunei—countries that stand out as some of the most vibrant economies in the East Asia region, with significant achievements in economic transformation and poverty alleviation,” Mustafaoglu said. “I look forward to meeting our partners across government, the private sector, civil society, and academic institutions to deepen my understanding of the unique development challenges these countries face and to explore how the World Bank can further contribute to their progress.”
The World Bank’s engagements in the Philippines, Malaysia, and Brunei Darussalam deploy advanced analytics, advisory services, and financing operations to support these countries' development agendas. These efforts are tailored to each country’s needs and priorities.
The World Bank has worked with the Philippines for over seventy years. It has provided enduring support for infrastructure and key sectors including agriculture, environment, social protection, water resources management; disaster risk management; and climate change. The World Bank has also supported key economic policy reforms by the government which have spurred private sector growth while promoting peace and development in Mindanao (Southern Philippines).
In Malaysia, the World Bank Group Inclusive Growth and Sustainable Finance Hub supports national development priorities through knowledge-based assistance. The Hub leverages Malaysia's development experiences to facilitate knowledge exchanges between Malaysia and low- to middle-income countries aspiring to emulate its success.
In Brunei Darussalam, the World Bank focuses on providing advice on key development priorities such as climate change while supporting small- and medium-sized enterprises.
Mustafaoglu joined the World Bank in 2005. He has contributed to various operations and research projects encompassing a broad spectrum of macroeconomic and microeconomic policy issues.
Prior to his appointment as Country Director for these three nations he served as Practice Manager for Finance Competitiveness Innovation within East Asia Pacific Region overseeing operations in China Mongolia Korea Laos Cambodia Myanmar Vietnam among others His recent roles include serving as Practice Manager for Finance Competitiveness Innovation Global Practice Latin America Caribbean Region Lead Economist Program Leader Argentina Paraguay Uruguay
Mustafaoglu earned his Ph.D. in International Economics from Middle East Technical University Türkiye completed master's degree conducted research economics University Essex Cambridge University England Before joining World Bank Mustafaoglu worked Turkish Government head Modeling Economic Analysis Department Prime Ministry State Planning Organization