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The World Bank on 16 September 2026 named Nobel laureate Michael Kremer as World Bank Group Chief Economist and Senior Vice President for Development Economics.
He takes charge on 1 October 2026, succeeding Indermit Gill, who retired in August 2026 after four years in the post.
Kremer shared the 2019 Nobel Prize in Economic Sciences with Abhijit Banerjee and Esther Duflo for an experimental approach to alleviating global poverty.
He helped develop Advance Market Commitments for vaccines and was Director of the Development Innovation Lab at the University of Chicago.
Multilateral development lender; five institutions — IBRD, IDA, IFC, MIGA, ICSID
World Bank's research, data and analysis arm, led by the Chief Economist
Partner in the pneumococcal Advance Market Commitment
A programme is given to a randomly chosen group and withheld from a comparable group; the difference in outcomes measures its true effect. Kremer, Banerjee and Duflo used this to find which anti-poverty interventions actually work.
Simple Analogy: Like testing a medicine against a placebo, but for school or health policy.
General Awareness > International organisations and appointments
GS Paper 2 > International institutions; GS Paper 3 > Poverty
Which one of the following issues the 'Global Economic Prospects' report periodically?
Answer: The World Bank
BioCarbon Fund Initiative for Sustainable Forest Landscapes' is managed by the
Answer: World Bank
India's ranking in the 'Ease of Doing Business Index' is sometimes seen in the news. Which of the following has declared that ranking?
Answer: World Bank
The Global Infrastructure Facility is a/an
Answer: World Bank collaboration that facilitates the preparation and structuring of complex infrastructure Public-Private Partnerships (PPPs) to enable mobilization of private sector and institutional investor capital.
Which one of the following is not a sub-index of the World Bank's Ease of Doing Business Index?
Answer: Maintenance of law and order
A donor pledge to buy a future vaccine at a set price, giving firms the incentive to develop and supply it
The World Bank's lending arms for middle-income and poorest countries respectively
Randomised controlled trial — evaluation method comparing randomly assigned treatment and control groups