The World Bank headquarters in Argentina has a new number one. This is Marianne Fay, who will assume the direction of the institution and will also have Paraguay and Uruguay under her command, albeit based in Buenos Aires.

Fay replaces Jordan Schwartz, designated in Eastern Europe. Throughout his career, he worked as an official development problemsspecialized in infrastructure, environmentgreen growth and poverty (He published a book titled The urban poor in Latin America)

The board has a long career at the World Bank. Before arriving in Argentina, she was a director for Bolivia, Chile, Ecuador and Peru; Chief Economist of the Vice Presidency for Sustainable Development and Principal Economist for the entity’s Department of Climate Change.

The multilateral entity currently has a portfolio of 23 investment projects in Argentina, with committed credits totaling US$8.5 billion in the areas of social, infrastructural, environmental and economic development.

Last year it approved $1.1 billion in new projects and confirmed another $900 million for the next six months.

The World Bank has forecast that Argentina’s growth this year will slow sharply compared to the previous year, as it will drop to 2% due to an adverse global environment, but above all because inflation complicates economic activity.