MALE', July 1, 2025-Gevorg Sargsyan, who has been serving as the World Bank Country Manager for Maldives since last year, has now taken on an expanded role. In addition to the World Bank, he will oversee the operations of the World Bank Group's private sector arms - the International Finance Corporation (IFC) and the Multilateral Investment Guarantee Agency (MIGA) in Maldives. This move consolidates country-level leadership across the institution, providing a single point of contact for access to the full breadth of World Bank Group to better support both public and private sector priorities in Maldives.
An Armenian national, Sargsyan is also serving as the Country Manager for the World Bank Group in Sri Lanka. With over twenty years of experience, he has been with the World Bank since 2000 and has held various positions such as Country Manager for Ukraine and Belarus, Manager of Operations for Southeast Asia, and Global Lead for Clean Energy.
"Maldives has immense potential for private sector-led growth. While tourism is driving impressive economic expansion, the country does face significant fiscal and external headwinds. In this expanded role, my priority is to enhance and broaden our partnerships to enable the private sector to be the driving force behind Maldives achieving a sustainable and resilient economic future," said Gevorg Sargsyan, World Bank Group Country Manager for Maldives. "Unifying the World Bank Group's presence will make us a faster, more effective partner for our key stakeholders, enabling us to support job creation, strengthen fiscal resilience, and foster a more inclusive and climate-adaptive economy for the benefit of all Maldivians."
The World Bank Group is currently implementing the five-year Country Partnership Framework (CPF) for Maldives, covering the period from 2024-2027, with a focus on strengthening fiscal and climate resilience, increasing access to economic opportunities, and improving human capital outcomes to encourage private sector investment and drive economic transformation.
The introduction of joint country representation is an important step towards building a stronger World Bank Group. Maldives is among 41 World Bank Group offices transitioning to a single Country Manager or Resident Representative for the International Bank for Reconstruction and Development (IBRD), International Development Association (IDA), the International Finance Corporation (IFC), and the Multilateral Investment Guarantee Agency (MIGA).
