Gevorg Sargsyan Appointed to Lead All World Bank Group Operations in the Maldives

Gevorg Sargsyan has officially assumed an expanded leadership role in the Maldives, becoming the unified Country Manager for all arms of the World Bank Group. In addition to his current responsibilities with the World Bank, Sargsyan will now also oversee operations of the International Finance Corporation (IFC) and the Multilateral Investment Guarantee Agency (MIGA) within the country. The move consolidates the Group’s presence in the Maldives under a single leadership structure, enabling more streamlined engagement with public and private sector stakeholders and faster implementation of development initiatives.

An Armenian national with more than two decades of experience in international development, Sargsyan has held numerous senior positions within the World Bank since joining in 2000. His prior roles include Country Manager for Ukraine and Belarus, Manager of Operations for Southeast Asia, and Global Lead for Clean Energy. He currently also serves as the Country Manager for the World Bank Group in Sri Lanka.

In a statement on his new responsibilities, Sargsyan emphasized the need to strengthen the Maldives' private sector as a key driver of long-term prosperity. “Maldives has immense potential for private sector-led growth. While tourism is driving impressive economic expansion, the country faces significant fiscal and external challenges,” he said. “Unifying the World Bank Group’s presence allows us to respond more effectively to these challenges by fostering inclusive growth, strengthening fiscal resilience, and supporting a climate-adaptive economy.”

The World Bank Group is currently implementing its Country Partnership Framework (CPF) for the Maldives, covering the 2024–2027 period. The CPF focuses on three strategic pillars: improving fiscal and climate resilience, expanding economic opportunities, and enhancing human capital development to enable greater private sector investment.

The Maldives is one of 41 countries worldwide to transition to a single World Bank Group representative under a broader institutional reform aimed at improving the Group’s responsiveness and alignment. Through this integrated model, the World Bank Group aims to offer comprehensive solutions that combine public policy expertise, private capital mobilization, and risk mitigation to accelerate national development priorities.