Dr Peter Larose, the Seychellois Alternate Executive Director of Africa Group 1 Constituency at the World Bank Group, has been elected as the new Executive Director of the Constituency at its meeting on Thursday 9th October 2014. The 22 African countries represented by this Constituency unanimously voted for Dr. Larose.

Congratulating Dr. Larose on his election, President Michel commended him on the leadership role and capabilities that he has demonstrated since joining the World Bank Group, earning him the respect and trust of his peers.

"Your election to this high office is a well-deserved recognition of your professional qualities and an endorsement of the confidence that our neighbours on the African continent place in you and in Seychelles,” said the President. Calling Dr Larose’s election an outstanding achievement, President Michel added that it brought immense pride and satisfaction to Seychelles, as well as added visibility to the cause of small island states and the advocacy of the Blue Economy within the World Bank Group.

Dr Larose joined the World Bank Group in September 2008. In November 2010, he was promoted to the position of Senior Advisor and in November 2012 he became the Alternate Executive Director. He takes over the Executive Chair from Dr. Denny Kalyalya from Zambia.

He will assume his new responsibility from 1 November 2014 and expects to serve in that position for a period of two years.

Furthermore, the Seychelles Minister for Finance, Trade and Investment Pierre Laporte was also appointed as new Chairman of the World Banks' Small States Forum, an honorary role which highlights Seychelles' leadership in promoting the interests of small state economies.

Editor's Note:
1. Dr. Peter Larose holds the following qualifications: Associate of the Association of International Accountants (AAIA) UK, Fellow of the Chartered Institute of Bankers (FCIB) UK, Fellow of the Chartered Management Institute (FCMI) UK, MBA (International Banking & Finance) UK, PhD in UK Commercial Banking, Member of American Economic Association, USA, Member of International Banking, Economics and Finance Association, USA.

2. The Africa Group 1 Constituency at the World Bank Group is composed of the following countries: Botswana, Burundi, Eritrea, Ethiopia, The Gambia, Kenya, Lesotho, Liberia, Malawi, Mozambique, Namibia, Rwanda, Seychelles, Sierra Leone, Somalia, South Sudan, Sudan, Swaziland, Tanzania, Uganda, Zambia, and Zimbabwe.  At the Board level, this Constituency is the second largest, in terms of number of countries represented.