World Bank Group appoints new Country Manager for Lebanon
Most recently, Blanco Armas was the Manager for the Strategy and Operations Unit of the International Development Association (IDA), the World Bank Group's fund for the poorest countries. In this role, he led and helped shape the high-level strategic engagements on IDA20. Blanco Armas joined the World Bank Group's Young Professionals Program in 2005 and over the years took on roles of increasing responsibility in the Africa, South Asia, East Asia and Pacific, and Europe and Central Asia regions.
"Strengthening our partnerships with the government, the private sector, and development partners is vital to supporting Lebanon as it navigates the path toward a sustainable and inclusive recovery," said Blanco Armas. "I am delighted to take on this new role and work together with the dedicated World Bank, IFC, and MIGA teams to increase our development impact for the people in Lebanon."
The overarching goal of the World Bank Group's Country Engagement Strategy for Lebanon has been to continue to protect the people and businesses from the impact of the compounded crises, help prepare for the recovery of the Lebanese economy and advance the reform agenda in key social and economic sectors through knowledge and analytical work.
The World Bank has historically provided Lebanon with financing to support social protection and human capital development; infrastructure including water, energy, roads and municipal services; agriculture and environmental management; small and medium enterprises; and cultural heritage development. Throughout the past crises, World Bank assistance helped address urgent needs while sustaining critical investments that help improve the living standards of the population, enhance public services, and set the stage for a sustainable recovery. As a knowledge institution, the World Bank has also been contributing through its analytical reports to informing the public debate in support of inclusive and effective policy formulation.
IFC, a member of the World Bank Group focused on the private sector in emerging markets, has been a steadfast partner of Lebanon for over 50 years and has been supporting the resilience and competitiveness of the country's private sector, especially in the financial sector, manufacturing, construction, retail, ICT and the digital economy. IFC is also focusing on helping increase energy generation capacity and providing liquidity to microfinance institutions. In addition, IFC's advisory work aims to leverage education, upskilling, and entrepreneurship as well as public-private partnerships that enhance the role of the private sector in reconstruction and recovery efforts.
MIGA, the home of the World Bank Group Guarantee Platform, supported the country with guarantees covering private investments in Lebanon's power distribution system, and is now actively seeking new opportunities in the country.
The Lebanon office will now operate under a single Country Manager for the institutions of the World Bank Group including the International Bank for Reconstruction and Development (IBRD), International Development Association (IDA), International Finance Corporation (IFC), and Multilateral Investment Guarantee Agency (MIGA).
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