Gevorg Sargsyan, who has been the World Bank Country Manager for Maldives since last year, is expanding his role to include oversight of the International Finance Corporation (IFC) and the Multilateral Investment Guarantee Agency (MIGA) operations in Maldives. This change aims to streamline leadership at the country level within the World Bank Group, providing a single point of contact for both public and private sector priorities in Maldives.
Sargsyan, an Armenian national, also serves as the Country Manager for Sri Lanka. With over two decades of experience at the World Bank since 2000, he has held roles such as Country Manager for Ukraine and Belarus and Global Lead for Clean Energy.
“Maldives has immense potential for private sector-led growth. While tourism is driving impressive economic expansion, the country does face significant fiscal and external headwinds. In this expanded role, my priority is to enhance and broaden our partnerships to enable the private sector to be the driving force behind Maldives achieving a sustainable and resilient economic future,” said Gevorg Sargsyan, World Bank Group Country Manager for Maldives. “Unifying the World Bank Group’s presence will make us a faster, more effective partner for our key stakeholders, enabling us to support job creation, strengthen fiscal resilience, and foster a more inclusive and climate-adaptive economy for the benefit of all Maldivians.”
The World Bank Group is executing a five-year Country Partnership Framework (CPF) in Maldives from 2024-2027. The framework focuses on strengthening fiscal and climate resilience while enhancing access to economic opportunities and improving human capital outcomes.
The transition to joint country representation marks an important step towards reinforcing the World Bank Group's structure. Maldives is among 41 offices adopting this unified approach with a single Country Manager or Resident Representative overseeing multiple branches including IBRD, IDA, IFC, and MIGA.
The World Bank Group's mission includes eradicating poverty globally while promoting sustainable development. Operating in over 100 countries, it provides financing and solutions that address global challenges by fostering job creation and economic growth.