Nobel laureate Michael Kremer has been appointed as the Chief Economist of the World Bank Group, effective October 1, 2026. 

---

World Bank Group President Ajay Banga announced that Nobel laureate Michael Kremer has been appointed as the World Bank Group Chief Economist and Senior Vice President for Development Economics, effective October 1, 2026.

Kremer, a prominent development economist, is renowned for devising solutions to pressing global issues and implementing programs that have positively impacted millions. His work includes expanding vaccine access, enhancing school health programs, and supporting smallholder farmers.

President Banga stated, "Michael joins us at a time when the world requires bold solutions to urgent development challenges, such as job creation for over 1.2 billion young people reaching working age in the next decade." Banga emphasized Kremer's expertise in identifying effective strategies in development and implementing them on a large scale.

The World Bank Group aims to strengthen the connection between knowledge and impact, focusing on world-class research and data to inform policies and scalable solutions globally. Kremer expressed his excitement about leveraging the World Bank Group's research capacity to tackle enormous challenges, including job creation and improving essential services for thriving lives.

Responding to the appointment, Kremer stated:

"The challenges ahead are enormous, including creating jobs at scale, unlocking the private capital needed to fund development, and ensuring people have the health, education, and other services they need to thrive. At the same time, new technologies create huge opportunities to boost growth and human well-being. Data, evidence, and research can help firms and governments navigate both the challenges and opportunities. I am excited to work with staff across the Bank Group and partners around the world on this."

Kremer holds a PhD in Economics from Harvard University and serves as the Director of the Development Innovation Lab at the University of Chicago. He shares the 2019 Nobel Prize in Economics (with Esther Duflo and Abhijit Banerjee) for his experimental contributions to alleviating global poverty. His research encompasses education innovation, health, and finance in developing countries, and he has initiated notable projects like Advance Market Commitments for vaccines.

In addition to his extensive academic and research credentials, Kremer is a MacArthur Fellow, a member of the National Academy of Sciences, and has co-founded several initiatives to innovate in development financing, ultimately benefiting millions globally. He is a co-founder of the Bureau for Research and Economic Analysis of Development and a Research Associate with the National Bureau of Economic Research.

The appointment is effective 1 October 2026.

---

Read the full press release from the World Bank.