-
Nobel laureate Michael Kremer has been appointed World Bank Chief Economist and Senior Vice President for Development Economics.
-
Kremer is known for research-driven approaches to development challenges, including healthcare, education, and support for smallholder farmers.
-
He joins the World Bank as it focuses on job creation, private capital mobilisation and expanding access to essential services.
September 16, (THEWILL) – The World Bank Group has appointed Nobel laureate Michael Kremer as its Chief Economist and Senior Vice President for Development Economics.
World Bank Group President, Ajay Banga, announced the appointment in a statement issued on Wednesday, September 16, 2026, bringing one of the world’s leading development economists into the institution’s senior leadership.
Kremer, who was awarded the Nobel Prize in Economic Sciences in 2019 alongside Abhijit Banerjee and Esther Duflo, is recognised for applying rigorous research and experimentation to development challenges.
The World Bank said his work has contributed to programmes affecting hundreds of millions of people, including efforts to expand vaccine access, school health programmes and support for smallholder farmers.
Banga said Kremer’s appointment comes as developing economies face pressure to create jobs, expand access to services and mobilise investment.
“I am pleased to welcome Michael to the World Bank Group. He joins us at a time when the world needs bold solutions to its most urgent development challenges, including creating jobs that meet the aspirations of more than 1.2 billion young people reaching working age in the coming decade”, Banga said.
He added that Kremer had spent his career identifying and testing what works in development and demonstrating how such approaches could be implemented at scale.
READ ALSO:
Focus On Evidence And Impact
The World Bank said the appointment reflects its efforts to strengthen the link between research, data and its operations, with evidence expected to inform policies, investments, partnerships and interventions across the institution.
Kremer said the World Bank’s combination of research capacity and operational reach provides an opportunity to test innovative approaches and scale those that prove effective.
“The World Bank Group has tremendous research capacity to develop and test innovative solutions to development problems—and the operational reach to scale them up and improve people’s lives”, he said.
He identified job creation, private capital mobilisation and access to health and education as among the major development challenges ahead.
Kremer also pointed to technological change as an opportunity to accelerate economic growth and improve living standards, saying data, evidence and research could help governments and businesses navigate both emerging challenges and opportunities.
“I am excited to work with staff across the Bank Group and partners around the world on this”, he stated.
Ogochukwu Onwaeze is a writer specializing in business and economic journalism. At THEWILL News Media, she translates market trends, financial developments, and policy shifts into clear and engaging stories.
