Former BoZ Governor Kalyalya Lands Top World Bank Post
Donor and borrower country representatives of the International Development Association (IDA) have selected Zambia’s Dr. Denny Kalyalya as the Independent Co-Chair of IDA’s twentieth replenishment (IDA20), which will launch later this month.
In this role, Dr. Kalyalya will champion stronger policy and financial support for IDA20 at political and other stakeholder levels across IDA donor and borrower countries.
Dr. Kalyalya will co-chair the IDA20 Replenishment process with Axel van Trotsenburg, the World Bank’s Managing Director of Operations.
Since IDA18, IDA replenishment meetings have had two co-chairs, comprising an independent eminent personality with adequate knowledge of Multilateral Development Banks, and a high-level representative of the World Bank Group appointed by the President of the institution.
An economist, Dr. Kalyalya has experience at the World Bank Group having served as an Executive Director from 2012 to 2014 and as an Alternate Executive Director from 2010 to 2012, representing Africa Group One Constituency of 22 countries.
Until December 2019, he also served as a Borrower Representative for IDA18 and IDA19.
Since June 2019, he has been serving as a Non-Executive Director on the Board of the African Export and Import Bank.
A Zambian national, Dr. Kalyalya’s experience includes serving as the Governor and the Chairman of the Board of Directors of the Bank of Zambia between 2015 and 2020, having earlier been Deputy Governor responsible for operations.
He has also served on a number of high-level, national, regional and international committees.
Dr. Kalyalya holds a PhD (Economics) and an MA (Economics) from the University of Massachusetts Amherst.
He also holds an MA and a BA (Economics) from the University of Zambia.
Background:
In February 2021, IDA donor and borrower country representatives agreed to advance IDA20 by one year, and shorten the IDA19 cycle to two years, due to pressures from the COVID-19 crisis. IDA19 will now cover July 2020 – June 2022, while IDA20 will cover July 2022 – June 2025.
The IDA20 replenishment process presents an opportunity to focus on building back better from the crisis and enhancing the existing IDA policy framework to support the transition to a green, resilient, and inclusive future. Replenishment discussions and negotiations for IDA20 will run from April to December 2021.
IDA is one of the largest sources of funding for fighting extreme poverty in the world’s poorest countries.
IDA provides zero- or low-interest loans and grants to countries for projects and programs that boost economic growth, build resilience, and improve the lives of poor people around the world.
Since 1960, IDA has provided about $422 billion for investments in 114 countries. As an institution of the World Bank Group, IDA combines global expertise with an exclusive focus on reducing poverty and boosting prosperity in the world’s poorest countries.
Source: Lusaka Times
