Desiré Jean-Marie Vencatachellum of Mauritius has been named Senior Director of the Country Economics Department at African Development Bank and will begin his tenure on November 1.
Vencatachellum has more than 30 years’ experience in strategic leadership on development economics and finance issues. That’s especially true in Africa, the AfDB said in a press release on Tuesday. He has served with AfDB since 2005, beginning as a research economist. He has held senior positions since 2011, including Director of Research and Director for Resource Mobilization and Partnerships.
“His expertise spans development economics, economic policy and policy dialogue, country-level studies, resource mobilization, project finance and development effectiveness,” said AfDB head Dr. Akinwumi Adesina. “I am confident that he will bring this blended and extensive experience to bear on strengthening the country economic analysis underpinning the Bank’s support to economic reforms in regional member countries.”
“Under his leadership, the 16th replenishment of the African Development Fund (ADF), the concessional window of the African Development Bank Group for 37 low- income African countries, reached the highest level ever at $8.9 billion in December 2022,” the organization said. “The replenishment saw contributions from 31 donors. He also led the ADF-15 replenishment in which resources increased by 32%.”
Vencatachellum led the development of the 2021 African Development Bank Group Trust Fund Policy, and set up the AFDB’s first Trust Fund with a foundation, the Bill and Melinda Gates Trust Fund, among other achievements.