Business And Markets

Iran's New Envoy to World Bank Appointed

The Economy Minister Farhad Dejpasand appointed Mojtaba Khalesi as new envoy of the Central Bank of Iran to the World Bank. 
The former head of ministry's public relations department played an active role in coordinating joint projects with the international lender when he presided over the Plan and Budget Organization's Office for Economic and International Coordination, IRNA reported.
He was also involved in securing foreign funds for development  projects and a member of a taskforce mandated with crafting a three-year (2002-2003) joint cooperation plan between with bank. 
The World Bank provides interest-free loans and grants to the governments of developing countries. The global lender is mandated "to reduce poverty, increase shared prosperity, and promote sustainable development". 
It basically comprises five institutions, namely the International Bank for Reconstruction and Development (IBRD), the International Development Association (IDA), the International Finance Corporation (IFC), the Multilateral Investment Guarantee Agency (MIGA) and the International Center for Settlement of Investment Disputes (ICSID).      

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