Nobel Laureate Michael Kremer Appointed World Bank Chief Economist

Nobel Prize-winning economist Michael Kremer will lead the World Bank Group’s research and analytical agenda as its new Chief Economist and Senior Vice President. President Ajay Banga tapped the University of Chicago professor to bridge the gap between academic evidence and large-scale policy implementation for developing economies.

Editorial·September 17, 2026·reads: 1,533

Nobel Laureate Michael Kremer Appointed World Bank Chief Economist

Kremer enters the role with a reputation for transforming experimental research into programs that affect millions. His track record includes pioneering Advance Market Commitments for vaccines—a mechanism that mobilized $1.5 billion to fight infant mortality in 60 countries. This pragmatic approach aligns with the Bank’s current mandate to address the employment needs of 1.2 billion young people entering the workforce over the next decade.

Beyond vaccine initiatives, Kremer’s focus on scalable development—such as deworming programs that have provided 2 billion treatments and AI-driven weather forecasting for 50 million smallholder farmers—demonstrates his commitment to data-backed interventions. By moving from the Development Innovation Lab at the University of Chicago to the helm of the Bank’s economic strategy, he aims to integrate rigorous testing into the core of institutional decision-making. His tenure will prioritize private capital attraction, digital transformation, and the expansion of essential services, ensuring that economic research directly informs how governments and businesses allocate resources.