Mr. Gevorg Sargsyan has been appointed as the World Bank’s new Country Manager for Maldives, effective July 1, 2024. An Armenian national, Mr. Sargsyan joined the World Bank in 2000 and brings over two decades of diverse experience to his new role. His career at the World Bank includes serving in various capacities such as Country Manager and Manager of Operations in Europe, Central Asia, and East Asia, Program Manager for Climate Finance, and Global Lead for Clean Energy. Most recently, he served as Country Manager for Ukraine based in Kyiv.
“I am looking forward to working closely with our partners and stakeholders in Maldives,” said Mr. Sargsyan. “My priority is to strengthen the World Bank’s robust partnership with the Maldivian government, to support the country in implementing its home-grown economic reforms, and to create the space for investments in people, climate and infrastructure that the Maldives needs to build a resilient economy.”
In his new role, Mr. Sargsyan will oversee a total portfolio of approximately $217 million and manage the implementation of the World Bank's Country Partnership Framework for Maldives, which aims to support the country's development priorities.
The World Bank and Maldives have maintained a strong partnership for over 45 years. The current World Bank program in Maldives includes 10 projects financed by the International Development Association (IDA), one regional project, and one IDA guarantee operation with a total net commitment of $217 million. These projects focus on areas such as renewable energy, competitiveness and growth, youth resilience and employability, digital development, urban development, solid waste management, COVID-19 response, fisheries, labor, health education, and social protection. Additionally, the World Bank provides analytical support in macro fiscal monitoring policies and analysis financial sector social protection poverty.