World Bank announces new director for Türkiye

ISTANBUL

J. Humberto Lopez has been announced as the World Bank’s country director for Türk,iye to replace Auguste T. Kouame, who recently completed a three-year term.

Lopez, a Spanish national, will lead the World Bank’s Program and Portfolio supporting the government of Türkiye to further its development agenda, the World Bank said in a press release yesterday.

“The World Bank has had the privilege of accompanying Türkiye in its development efforts for more than 70 years. I look forward to further deepening this fruitful relationship so that the positive prospects of the Turkish economy continue to improve the quality of life of its citizens despite worldwide economic uncertainty created by the global back-to-back shocks” said Lopez on the occasion of his appointment. “The bank stands ready, through financing, dialogue, strategic programs and knowledge products, to support Türkiye’s ambitions of continuing to be an upper middle-income country and an important global implementor on the climate agenda.”

Türkiye is the World Bank Group’s third largest client with a portfolio that includes lending of close to $1.6 billion from the International Bank for Reconstruction and Development (IBRD) within the last fiscal year. As of July 2022, the Bank’s net commitments to the country stood at $7 billion across 23 projects within the scope of the Country Partnership Framework for the period covering FYs 2017-2023 which amounts to $7-10.5 billion in total.

Lopez was most recently the Director of Strategy and Operations for Eastern and Southern Africa. In this position, he supported the vice president in defining and implementing the strategy and work program in the region overseeing a portfolio of more than 350 projects valued at over $60 billion.