World Bank Names Nobel Laureate Michael Kremer, Chief Economist

World Bank Group President, Ajay Banga, announced the appointment in a statement issued on Wednesday, September 16, 2026

The World Bank Group, has appointed Nobel laureate Michael Kremer, from New York City, as its Chief Economist and Senior Vice President for Development Economics. World Bank Group President, Ajay Banga, announced the appointment in a statement issued on Wednesday, September 16, 2026, bringing one of the world’s leading development economists into the institution’s senior leadership.

Kremer, who was awarded the Nobel Prize in Economic Sciences in 2019, alongside Abhijit Banerjee and Esther Duflo, is recognised for applying rigorous research and experimentation to development challenges. Banga said Kremer’s appointment comes as developing economies face pressure to create jobs, expand access to services and mobilise investment.

He added that Kremer had spent his career identifying and testing what works in development, and demonstrated how such approaches could be implemented at scale.