Press Release

The new Country Manager of the World Bank Group to Bhutan, Mr. Xavier Furtado, presented his credentials to the Hon’ble Foreign Minister, His Excellency Lyonpo D.N. Dhungyel, at the Ministry of Foreign Affairs and External Trade, Gyalyong Tshogkhang, on 2 September 2025. 

Mr. Furtado, a Canadian national, has been with the Bank for over 15 years. Prior to his appointment to Bhutan, he was the Senior Operations Officer for the World Bank’s Fragility, Conflict and Violence Group. He is succeeding Dr. Adama Coulibaly (PhD), who completed his term on 31 July 2025. 

As a part of the structural reform of the World Bank Group, the Country Office in Bhutan has been elevated to a Joint Representation since 1 July 2025.  The Country Manager will represent the International Bank for Reconstruction and Development (IBRD), the International Development Association (IDA), the International Finance Corporation (IFC), and the Multilateral Investment Guarantee Agency (MIGA). 

Since Bhutan became a member in 1981, the World Bank Group has played an important role in Bhutan’s socio-economic development through its support to education, health, rural development, agriculture, urban development, disaster resilience, climate change, and public financial management.