WASHINGTON (NNN-Bernama) -- The World Bank on Wednesday appointed Kaushik Basu, a former Indian government official and Cornell University professor, as its new chief economist and senior vice president.
World Bank president Jim Yong Kim announced the appointment for Basu, who most recently served as chief economic advisor of the Indian Ministry of Finance while on leave from his position as professor of Economics and International Studies at Cornell University.
Xinhua news agency reports Basu will begin his term on October 1.
"Having worked in a Ministry of Finance, in addition to his impressive academic achievements, Kaushik is uniquely suited to help us offer evidence-based solutions and advice to client countries and provide innovative excellence in leading our development research," said Kim.
Basu holds a PhD from the London School of Economics and founded the Centre for Development Economics at the Delhi School of Economics in 1992.
He also served as chairman of Cornell University's Department of Economics and director of Cornell's Centre of Analytic Economics where he headed the programme on Comparative Economic Development.
In 2008, Basu was awarded India's Padma Bhushan award for "distinguished service of high order." -- NNN-BERNAMA
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