World Bank Appoints Carlos Felipe Jaramillo as VP for East Asia & Pacific

The World Bank Group has announced the appointment of Carlos Felipe Jaramillo as the new Vice President for the East Asia and Pacific (EAP) Region, effective September 15, 2025. A seasoned economist and development leader, Jaramillo brings more than two decades of experience across multiple regions and global practices, making him well-positioned to guide the Bank’s jobs-focused development agenda in one of the world’s most dynamic regions.

A Strategic Leadership Role in a Global Growth Hub

In his new role, Jaramillo will oversee the Bank’s partnerships with 23 countries in East Asia and the Pacific, a region widely recognized as a global engine of growth, technology, and innovation. He will also manage an active portfolio exceeding US$32 billion, spanning critical areas such as energy, infrastructure, digital transformation, human capital, and climate resilience.

The World Bank has also announced that Singapore will serve as the new regional hub for EAP operations, reflecting the institution’s decentralization strategy. This move is aimed at bringing the Bank closer to its clients, allowing for more agile engagement, tailored solutions, and stronger partnerships across the region.

“East Asia and the Pacific remains a global engine of growth, technology and innovation, providing development insights for other countries,” Jaramillo said following his appointment. “I’m committed to working with our partners, including on energy, human capital development, and digitalization, to create stronger impact—ensuring more jobs and thriving communities for all.”

Proven Leadership Across Regions

Jaramillo’s appointment follows his successful tenure as World Bank Vice President for Latin America and the Caribbean (LAC) since 2020, where he oversaw the Bank’s engagement with 31 countries and managed a portfolio of US$41.5 billion in ongoing operations. His leadership was instrumental in guiding the region through multiple challenges, including economic recovery post-pandemic, climate resilience initiatives, and programs to reduce inequality and promote inclusive growth.

Earlier in his World Bank career, Jaramillo served as Country Director for Eritrea, Kenya, Rwanda, Somalia, and Uganda, managing more than 80 projects worth over US$12 billion. In addition, he held senior roles within the Macroeconomics, Trade, and Investment Global Practice, where he played a key role in shaping policies to support sustainable economic growth and private sector development.

Background and Academic Excellence

Before joining the World Bank, Jaramillo held senior positions in the Government of Colombia, contributing to the design and implementation of economic policies. His academic credentials include a Master’s degree and a Ph.D. in Development Economics from Stanford University, equipping him with both theoretical and practical expertise in addressing global development challenges.

A Region of Opportunity and Challenge

Jaramillo’s appointment comes at a pivotal moment for the East Asia and Pacific region, which has been at the forefront of global economic transformation but continues to face complex challenges. These include climate change impacts, demographic shifts, geopolitical tensions, and the need for inclusive and sustainable job creation.

With his extensive track record, Jaramillo is expected to deepen the Bank’s collaboration with governments, the private sector, and development partners to deliver impactful projects. His leadership will be central to advancing regional goals such as:

• Expanding access to renewable energy and reducing emissions.

• Strengthening digital connectivity to boost innovation and entrepreneurship.

• Investing in human capital development, particularly in education and healthcare.

• Promoting resilient infrastructure to safeguard communities against natural disasters.

• Supporting climate-smart agriculture and sustainable food systems.

Looking Ahead

As he steps into his new position, Jaramillo brings with him a reputation for inclusive leadership, strategic vision, and a strong commitment to sustainable development. His appointment signals the World Bank’s intent to strengthen its role as a key partner in helping East Asia and the Pacific navigate both opportunities and risks in the years ahead.

By positioning Singapore as its new hub for regional operations and entrusting leadership to a proven development strategist, the World Bank is aligning itself more closely with the EAP region’s ambitious growth and sustainability goals, paving the way for a new chapter of impactful partnerships.