World Bank appoints new Regional Director for South Caucasus
By Nika Gamtsemlidze
Tuesday, July 2
In this position, Mr. Molineus will supervise the Bank’s program in the three countries – Armenia, Azerbaijan, and Georgia. He will also lead the development and implementation of the Bank’s Country Partnership Strategies in these countries in coordination with development partners and civil society.
Mr. Molineus will be based in Tbilisi, which hosts the Bank’s Regional Office for the South Caucasus.
A German national, Mr. Molineus joined the World Bank Group in 2002 at the position of Project Manager in IFC’s Moscow office. He has since held positions both at IFC and the World Bank with a focus on corporate governance, capital markets, as well as financial and private sector development.
He is currently Director in the Finance, Competitiveness and Innovation Global Practice. In his new position, Mr. Molineus’ top three priorities will be: to lead the Bank’s engagement with governments, stakeholders, and partners in all three South Caucasus countries; to oversee the delivery and implementation of the Bank’s financial, advisory, and convening services, and guide the future direction of the programs, including formulation of Strategic Country Diagnostics and Country Partnership Frameworks; and to work with the International Finance Corporation (IFC) and Multilateral Investment Guarantee Agency (MIGA) to strengthen World Bank Group delivery.
According to the World Bank, Molineus was selected to this position through the Bank-wide competitive managerial selection process. He will succeed Mercy Tembon, who successfully served as the Regional Director for the South Caucasus from September 2015 to June 2019.
Ms. Tembon joined the World Bank in 2000 as an Education Specialist in the Human Development Department in the Africa Region. Through the last few years, Ms. Tembon helped the region to develop in this field, during her time in office, she was able to lead the country team to deliver knowledge, convening and financing services that respond to client demands and needs.
According to its official website, the World Bank is a vital source of financial and technical assistance to developing countries around the world.
Established in 1944, the World Bank Group is headquartered in Washington, D.C. The World Bank is similar to a cooperative, made up of 189 member countries. These member countries, or shareholders, are represented by a Board of Governors, who are the ultimate policymakers at the World Bank.