This Tuesday he presented his resignation as president of the Eurogroup and Minister of Finance of Ireland, “with effect from today”, as a preliminary step to his joining the World Bank, where he has been appointed as managing director and director of Knowledge and will begin his work next November 24.
“I present my resignation as president of the Eurogroup and finance minister of Ireland, with effect from today,” the Irishman reported, ensuring that the opportunity to serve as president of the Eurogroup, which had been leading since July 2020 -after beating Nadia Calviño-“it has been one of the greatest honors of my career in public life.”
In this sense, Donohoe has highlighted the work of the body that brings together the finance ministers of the euro zone to address challenges such as the Covid-19 pandemic, the effects of uncontrolled inflation resulting from the war in Ukraine and the consequences for Europe of a world in constant change.
“We strengthened the euro thanks to our collaborationcooperation and willingness to work together. This is because our currency is more than just an economic project; It is a demonstration of our shared values,” he said.
Donohoe, 51, He was the most senior minister in the Irish Government, since his ministerial career began in 2013 as Minister of State and in 2014 he was appointed Minister of Transport, Tourism and Sports, after which in 2016 he assumed the position of Minister of Public Expenditure and Reform, and in 2017 he was appointed Minister of Finance.
Another Spaniard, in this case, the current Minister of Economy, this summer in his fight for the presidency of the Eurogroup, has wished him “the best in his future responsibilities”, and has not wanted to say whether he will run for the Presidency of this organization. Meanwhile, it will be the Minister of Finance of the Republic of Cyprus, Makis Keravnos, who will serve as interim president of the Eurogroup.
The World Bank announces his appointment
At the same time, it has appointment of Paschal Donohoe as managing director confirmed and Director of Knowledge of the institution, highlighting the Irishman’s extensive experience in both the public and private sectors.
“Paschal brings more than twenty years of public service and knows firsthand how effective policies can boost the mobilization of private capital, foster growth and generate jobs,” said World Bank President Ajay Banga.
In his new position, Donohoe will lead the configuration, management and use of the institution’s Knowledge Bank based in Washington, ensuring that the entity offers its sovereign and private clients proven solutions that can be implemented at scale, based on the best combination of regulatory experience, technological advances and development innovations.
Likewise, he will also be responsible for the World Bank’s strategic collaboration with governments, civil society, foundations and philanthropic organizations.
“For more than twenty years as a public representative, My motivation has been to improve the lives of all the people I represent. and encourage participation and cooperation as the best means to advance crucial issues,” said Donohoe.
