World Bank expands Country Manager role in Maldives

World Bank has expanded the role of Gevorg Sargsyan, Country Manager for Maldives.

In addition to the World Bank, Sargsyan will now oversee operations of the International Finance Corporation (IFC) and Multilateral Investment Guarantee Agency (MIGA) in the Maldives, a statement from the World Bank said.

Sargsyan, an Armenian national, has over twenty years experience and has held various positions in the World Bank.

“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.

“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.”

World Bank is at present implementing the 5 year Country Partnership Framework (CPF) in Maldives.