The international lender announced on Tuesday that Paschal Donohoe has been named Managing Director and Chief Knowledge Officer of the World Bank Group.On November 24, Donohoe, who has been Ireland's Minister for Finance since January 2025, will take on the new position.
Additionally, from 2020 to 2023, Donohoe presided over the Eurogroup, a group of finance ministers from the Eurozone. He gained expertise in both the public and commercial sectors during his nearly ten years of employment with Procter & Gamble prior to entering politics.
Donohoe's experience in policymaking and his knowledge of the workings of private capital and industries, according to World Bank Group President Ajay Banga, would enable the organization to provide more successful programs.
Donohoe will be in charge of the World Bank's "Knowledge Bank," which is crucial in determining the research, policy recommendations, and development solutions provided to member nations.
Donohoe will be in charge of increasing the Bank's interaction with governments, foundations, charitable organizations, and civil society organizations in his new role.
Additionally, he will direct the organization's acquisition and use of knowledge in development, technology, and regulation throughout its international activities.
According to a statement from Donohoe, the position fits with his long standing emphasis on international organizations and nations working together to address social and economic issues.
The Irish politician has won various honors, such as the Chevalier de la Légion d'Honneur from the French government and the European of the Year award from European Movement Ireland.
