Paschal Donohoe has been appointed as the new Managing Director and Chief Knowledge Officer of the World Bank Group, according to an announcement made by the organization on November 18, 2025. Donohoe is currently serving as Ireland's Minister for Finance and has held the position of President of the Eurogroup since July 2020. His background includes significant experience in both public service and the private sector, having worked at Procter & Gamble for nearly ten years.
World Bank Group President Ajay Banga commented on the appointment: “Paschal brings more than twenty years of public service, and knows firsthand how good policies can unleash private capital mobilization, boost growth, and generate jobs. He also brings extensive knowledge of how investors, private sector, financial companies, technology firms, and others operate – from his near decade of experience in the private sector. This combination will be invaluable at ensuring the World Bank Group delivers more impact at scale.”
In his new role as Chief Knowledge Officer, Donohoe will oversee efforts to manage and expand the institution’s Knowledge Bank. The aim is to use this resource to support poverty reduction and improve living standards in emerging markets and developing economies. Donohoe will be responsible for ensuring that clients have access to effective solutions based on regulatory expertise, technological developments, and innovations in development. He will also lead strategic engagement with governments, civil society organizations, foundations, and philanthropies.
Donohoe expressed his views on joining the World Bank: “It is a tremendous honor to take up this role at the World Bank, as Managing Director and Chief Knowledge Officer. In more than twenty years as a public representative, my motivation has been to improve the lives of all of the people I represent and to foster engagement and cooperation as the best means of progressing vital issues.”
He added: “By encouraging collaboration with, and between, governments and global institutions we can make progress and meet the challenges we face head-on. This has been a key and continuous theme of my public life and the work that I have done. The need for this has never been greater than it is today. I look forward to playing a central role at the World Bank in making the case for this cooperation at a time of great change in our world.”
Donohoe has received several honors during his career including being named European of the Year by European Movement Ireland as well as receiving France’s Chevalier de la Légion d’Honneur.
He will begin his new position on November 24.