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 It is an honour to return to the Africa region as vice president at a time when the continent is on the rise, with strong growth led by private investment, and a new sense of optimism 

The bank said Diop was previously country director for Brazil since 2009 where he managed the World Bank's largest country programme.

Prior to joining the bank, Diop worked at the International Monetary Fund and served as finance minister for Senegal, and as chair of the West African Monetary Union Board of Finance Ministers.

"It is an honour to return to the Africa region as vice president at a time when the continent is on the rise, with strong growth led by private investment, and a new sense of optimism," said Diop.

"With world-class development knowledge and innovative financing, we can help support Africa's momentum and ensure that all Africans, especially the poor, share in the continent's economic and social transformation."

In the fiscal year 2011, the World Bank committed more than $7-billion (R54.9-billion) in new development financing for Africa, and disbursed over $5.5-billion (R43.1- billion).