July 1, 2024 - The World Bank announced the appointment of economist Zafer Mustafaoglu as the new Country Director for the Philippines, Malaysia, and Brunei Darussalam, effective today.
Mustafaoglu, a Turkish national, will oversee the World Bank's program of support in these three countries. Having joined the World Bank in 2005, Mustafaoglu has contributed significantly to various operations and research projects. His extensive experience includes serving as the Practice Manager for Finance, Competitiveness, and Innovation in the East Asia and Pacific Region, where he oversaw operations in China, Mongolia, Korea, Laos, Cambodia, Myanmar, and Vietnam. His recent roles also include leading the Finance, Competitiveness, and Innovation Global Practice in the Latin America and the Caribbean Region, and serving as Lead Economist and Program Leader for Argentina, Paraguay, and Uruguay.
Mustafaoglu earned his Ph.D. in International Economics from the Middle East Technical University in Turkey, and completed his master's degree and research in economics at the University of Essex and Cambridge University in England. Before joining the World Bank, he served as the head of the Modeling and Economic Analysis Department at the Prime Ministry State Planning Organization in the Turkish government.
“I am deeply honored to assume the role of Country Director for the Philippines, Malaysia, and Brunei—countries that stand out as some of the most vibrant economies in the East Asia region, with significant achievements in economic transformation and poverty alleviation,” Mustafaoglu said in a statement. “I look forward to meeting our partners across government, the private sector, civil society, and academic institutions to deepen my understanding of the unique development challenges these countries face and to explore how the World Bank can further contribute to their progress.”
The World Bank has a longstanding relationship with the Philippines, spanning over 70 years. Its support includes infrastructure development, and key sectors such as agriculture, environment, social protection, water resources, disaster risk management, and climate change. The Bank has also played a crucial role in supporting the government's economic policy and governance reforms, promoting private sector growth, and fostering peace and development in Mindanao.
This new appointment signals a continued commitment by the World Bank to support the development agendas of the Philippines, Malaysia, and Brunei, working closely with various stakeholders to achieve sustainable growth and development.