WASHINGTON — Axel van Trotsenburg, an economist and development expert with over 30 years of experience at the World Bank Group, has been appointed Vice President for the Latin America and the Caribbean Region, effective Feb, 1. Van Trotsenburg will manage bank relations with 31 countries and a portfolio of ongoing projects, technical assistance and grants of about US $30 billion.
Most recently, van Trotsenburg was World Bank Vice President of Development Finance (DFi), where he oversaw the strategic mobilization of resources, including for the World Bank Group’s International Development Association (IDA) and International Bank for Reconstruction and Development (IBRD), as well as a multibillion-dollar trust fund portfolio. He co-led the World Bank Group’s efforts to obtain a capital increase, which resulted in shareholders endorsing a transformative capital package in April 2018, including an increase in IBRD capital by US $60 billion. He also led the policy negotiations and replenishment process for two IDA replenishments, which together mobilized a record US $125 billion for programs in the world’s poorest countries.
Previously, van Trotsenburg was Country Director for Colombia and Mexico, from July 2007 to July 2009; and Country Director to Argentina, Chile, Paraguay, and Uruguay, from 2002 to July 2007. In the beginning of his career, he also worked as Country Economist for Guatemala.
“I am pleased to work again in Latin America and the Caribbean to build even stronger partnerships with the region’s governments and civil society to promote sustainable development and opportunities for all,” van Trotsenburg said. “The World Bank is ready to continue serving the region with our expertise to address the rapidly changing challenges of our time, with the main focus of improving people’s lives.”
Apart from his experience in managing World Bank finances, van Trotsenburg has had extensive experience in country operations and managing regional programs. Prior to his role as Vice President of DFi, he served as Vice President for the East Asia and Pacific Region from 2013 to 2016.
From 1996 to 2001, he was the Senior Manager of the Heavily Indebted Poor Countries (HIPC) Initiative, the largest and most comprehensive debt relief program for poor countries, which delivered debt relief packages of close to US $30 billion for 20 countries.
A dual Dutch and Austrian citizen, van Trotsenburg, holds a master’s and a doctorate degree in economics and a master’s degree in international affairs.