International development organisation the World Bank Group has appointed Paschal Donohoe as MD and chief knowledge officer, effective November 24.

Donohoe has served as Ireland's Minister for Finance since January and as president of the Eurogroup of Finance Ministers since July 2020.

His extensive experience spans both the public and private sectors, including nearly a decade at Procter & Gamble, the World Bank points out.

As chief knowledge officer, Donohoe will lead on shaping, managing and leveraging the institution’s Knowledge Bank – indicated to be a force multiplier in the mission to fight poverty and improve quality of life in emerging markets and developing economies.

He will ensure the World Bank Group offers its sovereign and private clients proven solutions that can be used at scale, based on the best combination of expertise in regulations, technological advances and development innovations.

Donohoe will also be responsible for the World Bank Group’s strategic engagement with governments, civil society, foundations and philanthropies.

Donohoe has been recognised with several honours, including European of the Year from the European Movement of Ireland and the Chevalier de la Légion d’Honneur from the French government.

“It is a tremendous honour to take up this role at the World Bank, as MD and chief knowledge officer. In more than 20 years as a public representative, my motivation has been to improve the lives of all of the people I represent and to foster engagement and cooperation as the best means of progressing vital issues,” Donohoe says.

“By encouraging collaboration with, and between, governments and global institutions we can make progress and meet the challenges we face head-on. This has been a key and continuous theme of my public life and the work that I have done. The need for this has never been greater than it is today. I look forward to playing a central role at the World Bank in making the case for this cooperation at a time of great change in our world,” he adds.

“Paschal brings more than 20 years of public service, and knows firsthand how good policies can unleash private capital mobilisation, boost growth and generate jobs.

“He also brings extensive knowledge of how investors, the private sector, financial companies, technology firms, and others operate – from his near decade of experience in the private sector. This combination will be invaluable at ensuring the World Bank Group delivers more impact at scale,” says World Bank Group president Ajay Banga.