People & partners
Michael Fuchs is a widely experienced financial sector development professional with extensive experience across Africa (and previously Eastern Europe) in leading highly-qualified, often large, multidisciplinary project teams. From its inception, he led the World Bank’s engagement in the Making Finance Work for Africa partnership. The publication (2014) of a study on cross-border banking in Africa is one product of this partnership. He led 10 Financial Sector Assessments (FSAPs) in Sub-Saharan Africa between 2002 and 2013, notably Nigeria (2012), and a 5-country FSAP for the East African Community (2013). In undertaking these ‘developmental’ FSAPs financial inclusion was a major focus. In this context the FSAPs focused on retail payments system reforms designed to leverage technological innovation (Malawi, Rwanda, Tanzania, the EAC FSAP). This topic was also part of a strategy for financial inclusion developed for South Africa (published in 2013). Michael Fuchs was recognized as “The Most Connected Professional’ in the World Bank Financial & Private Sector Development (FPD) Vice-Presidency based on a special 2010 Staff Survey. He prepared the Kenyan Financial Sector Reform Credit in 2005, a milestone in containing political interference in the Kenyan financial system. Additionally, he was the responsible task manager for Nigerian Development Policy Operation (2010), to date the World Bank’s largest financial sector project in Africa ($500 million). More recently (2013/2014) Michael Fuchs was lead advisor in support of the World Bank’s on-going reform of development finance in Nigeria and advised the Kenyan authorities on restructuring of their financial sector regulatory framework. Previously Michael Fuchs led the World Bank’s post-1998 Russian Financial Crisis Response on financial sector reform. Michael Fuchs has for many years considered mentoring of younger talented colleagues as an integral part of his responsibilities, and developed and delivered acclaimed Master Classes (Global Practices, “Lessons Learnt”) for senior professional World Bank Group staff.