New World Bank country manager begins tenure
Fernandes’ appointment comes as Zimbabwe is reengaging creditors to extinguish total public debt estimated to be over US$20 billion. Zimbabwe owes the World Bank US$1,54 billion.
ENEIDA Fernandes has begun her reign as the new World Bank’s country manager to Zimbabwe with a mandate to spearhead its operational programmes and engagement in the arrear’s clearance and debt resolution efforts, the Bretton Woods institution said yesterday.
The Brazilian national will also sustain and grow a constructive dialogue with the government and work alongside stakeholders and partners to coordinate action and catalyse change, it said.
Fernandes replaced Marjorie Mpundu who is now the chief counsel in the World Bank’s Legal vice-presidency covering Africa.
Fernandes’ appointment comes as Zimbabwe is reengaging creditors to extinguish total public debt estimated to be over US$20 billion. Zimbabwe owes the World Bank US$1,54 billion.
“I am excited to begin my assignment and look forward to deepening our engagement in the country,” Fernandes said.
“Through knowledge, financing, and partnerships, we will continue to work with the Government of Zimbabwe and other stakeholders in line with our mission of creating a world free of poverty on a livable planet.”
Fernandes was previously the resident representative for Cabo Verde, where she played a pivotal role at the height of the COVID-19 pandemic and in expanding the footprint of the World Bank support to the island country.
Before that, the Brazilian was a specialist leading the World Bank’s private sector engagements in Madagascar and has more than 20 years experience in the development practice spanning operational and management space.
She has been with the World Bank since 2008.
“Fernandes worked in Latin America and the Caribbean, and Africa, in dose collaboration with International Finance Corporation (IFC) MIGA and other development agencies, for both low- and middle-income countries, and fragile and conflict-affected States,” the World Bank said.
“She has robust experience engaging in high-level dialogue with policymakers, business leaders, development partners and investors.
“On the technical level, she has expertise in designing, implementing and managing high-performing, integrated, strategic jobs and economic development operations and advisory solutions for clients.”
Fernandes authored or co-authored various publications and has had numerous speaking engagements at local and global events, the World Bank said.
The Bretton Woods institution country portfolio includes the Zimbabwe health sector development support project and Zimbabwe COVID-19 emergency response project.
The portfolio also includes some advisory programmes from the IFC, namely the Zimbabwe Destination Development Programme.
“Other sectors in the portfolio are social protection, energy, water, climate, governance, agriculture and poverty monitoring. A new country engagement note is also under preparation and will focus on strengthening macroeconomic stability, promoting effective and transparent governance and building resilience,” the bank said.
The resolution of Zimbabwe’s debt will help unlock fresh capital for the economy that has been in an ongoing recession for years.-newsday
