World Bank Appoints Paschal Donohoe as Managing Director

The World Bank Group announced the appointment of Paschal Donohoe as its new Managing Director and Chief Knowledge Officer (CKO). Donohoe, a highly experienced European policymaker from Ireland, will assume his role on November 24, 2025.
His appointment is pivotal as the World Bank focuses on leveraging global expertise and knowledge to achieve its mission of ending poverty and boosting shared prosperity.

World Bank Appoints Paschal Donohoe as Managing Director

Paschal Donohoe: Professional Background

• Public Service: Donohoe most recently served as Ireland’s Minister for Finance since January 2025. He also held the significant international position of President of the Eurogroup from July 2020, known for his pragmatic leadership during economic challenges in the European Union.
• Private Sector: Before his public service career, he spent nearly ten years working at Procter & Gamble, gaining valuable experience in corporate governance and global finance.

Role and Responsibilities at the World Bank Group

As the Managing Director and Chief Knowledge Officer, Donohoe will lead the strategic development of the World Bank’s knowledge framework, often referred to as the “Knowledge Bank.”

His main responsibilities will include:

1. Knowledge Management: Shaping and leveraging global expertise to provide practical, scalable solutions for development challenges in emerging economies.
2. Collaboration: Enhancing cooperation with governments, civil society, and philanthropic organizations.
3. Innovation: Integrating technological innovations, regulatory best practices, and evidence-based policy guidance into the World Bank’s offerings to clients.

The role is designed to act as a force multiplier to increase the Bank’s impact worldwide. The current President of the World Bank Group is Ajay Banga.

Awards and Recognition

Donohoe has received high honors reflecting his global stature as an economic and policy leader, including the Chevalier de la Légion d’Honneur (one of the highest civilian honors by the French Government).

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Question & Answer

Q1. Who has been appointed as the new Managing Director and Chief Knowledge Officer of the World Bank Group?
A) Ajay Banga
B) Kristalina Georgieva
C) Paschal Donohoe
D) David Malpass
Answer: C) Paschal Donohoe
Explanation: Paschal Donohoe, a former Irish Minister for Finance and President of the Eurogroup, has been appointed as the new Managing Director and Chief Knowledge Officer of the World Bank Group.

Q2. Before joining the World Bank, Paschal Donohoe most recently served as the Minister for Finance of which country?
A) Germany
B) France
C) Ireland
D) United Kingdom
Answer: C) Ireland
Explanation: Donohoe was the Minister for Finance of Ireland since January 2025 and also served as the President of the Eurogroup.

Q3. In his new role at the World Bank, what key area is Paschal Donohoe primarily responsible for leading?
A) Investment Banking Operations
B) Crisis Management and Disaster Relief Funding
C) Strategic Development of the Knowledge Framework (“Knowledge Bank”)
D) Managing Human Resources for all regional offices
Answer: C) Strategic Development of the Knowledge Framework (“Knowledge Bank”)
Explanation: As Chief Knowledge Officer, he is responsible for leading the strategic development and implementation of the World Bank’s knowledge framework.

Q4. Paschal Donohoe held the influential position of President of which European financial body from July 2020?
A) European Central Bank (ECB)
B) European Commission
C) Eurogroup
D) European Parliament
Answer: C) Eurogroup
Explanation: Donohoe served as the President of the Eurogroup, which coordinates policy among Eurozone finance ministers.

Q5. Who is the current President of the World Bank Group?
A) Paschal Donohoe
B) Ajay Banga
C) David Malpass
D) Nirmala Sitharaman
Answer: B) Ajay Banga
Explanation: Ajay Banga has been serving as the President of the World Bank Group since 2023.

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