How Ngozi Okonjo-Iweala Emerges As The First Female To Head WTO - Naijatalk212

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Tuesday, 16 February 2021

How Ngozi Okonjo-Iweala Emerges As The First Female To Head WTO

Ngozi Okonjo-Iweala Emerges As The First Female To Head WTO

Congratulations to Ngozi Okonjo-Iweala as she emerges as the head of World Trade Organization (WTO). She is the first female and first African to head the position of WTO.


Ngozi's Careers Before She Becomes The Head Of WTO In 2021

Okonjo-Iweala served twice as Nigeria’s Finance Minister and also as Minister of Foreign Affairs. She was the first female to hold both positions.


During her first term as Minister of Finance under former President Olusegun Obasanjo’s administration, she spearheaded negotiations with the Paris Club that led to the wiping out of US$30 billion of Nigeria’s debt, including the outright cancellation of US$18 billion.


Okonjo-Iweala who also had a 25-years career at the World Bank in Washington DC as a development economist, rising to the No. 2 position of Managing Director.


As Managing Director, she had oversight responsibility for the World Bank’s $81 billion operational portfolio in Africa, South Asia, Europe and Central Asia.


Okonjo-Iweala spearheaded several World Bank initiatives to assist low-income countries during the 2008–2009 food crises, and later during the financial crisis. In 2010, she was Chair of the IDA replenishment, the World Bank’s successful drive to raise $49.3 billion in grants and low interest credit for the poorest countries in the world.


During her time at the World Bank, she was also a member of the Commission on Effective Development Cooperation with Africa, which was set up by the Prime Minister Anders Fogh Rasmussen of Denmark, and held meetings between April and October 2008.

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