Dr Ngozi Okonjo-Iweala, the World Bank managing director will arrive Banjul today, February 10, 2010, a dispatch issued by the Communication Division in Dakar, Senegal revealed yesterday.

In the dispatch, Habib Fetini, the World Bank country director for The Gambia said the visit of the managing director is an opportunity to deepen the bank?s good relationship and dialogue with The Gambia?s leadership, while emphasising its support for improving private sector development and rural development as well as education and public sector management.

Upon arrival in The Gambia according to the dispatch, the top World Bank official will meet the Gambian authorities as well as visit the Business Park established with support of the IDA-funded Gateway Project Business and The Gambia Groundnut Company. Later in the day, Ngozi Okonjo-Iweala is expected to give a press conference at 4:00 PM.

Who is Dr Okonjo-Iweala
Dr. Ngozi Okonjo-Iweala is presently the managing director of the World Bank. From June to August 2006, she was minister of Foreign Affairs of the Federal Republic of Nigeria, overseeing Nigeria?s External Relations. From July 2003 to June 2006 she served as minister of Finance and Economy of Nigeria and head of Nigeria's much acclaimed Presidential Economic Team responsible for implementing a comprehensive home grown economic reform programme that stabilised the macro-economy and tripled the growth rate to an average 6 percent per annum over three years.

Her achievements as Finance minister garnered international recognition for improving Nigeria?s financial stability and fostering greater fiscal transparency to combat corruption. In October 2005, she led the Nigerian team that negotiated the cancellation of US $18 billion or 60 percent of Nigeria?s external debt with the Paris Club.

The debt deal also included an innovative buy-back mechanism that wiped out Nigeria?s Paris club debt and reduced the country?s external indebtedness from US$35 to US$5 billion. Dr. Okonjo-Iweala oversaw Nigeria?s first ever Sovereign credit rating of BB- from Fitch and Standard and Poor?s?a rating that grouped Nigeria with other emerging market countries such as Brazil, Vietnam, Venezuela, and Philippines.