Our Governance

CGAP is a global partnership of more than 30 leading development organizations, whose rich variety of perspectives guide and strengthen our work. We are supported by bilateral and multilateral agencies, foundations and development finance institutions who leverage our work and take solutions to scale. Housed at and administered by the World Bank as trustee but with a separate governance and funding structure, CGAP serves as an independent platform to exchange knowledge and coordinate financial inclusion efforts.


The Council of Governors (CG) is the membership and governance body of CGAP, chaired by a World Bank Senior Director. Each member appoints a focal point as its CG representative and has one vote on the council. At the annual CG meeting in May, members discuss CGAP’s strategic direction, review and approve work plans and budgets, and share knowledge about new innovations and trends.


The Executive Committee (ExCom) operates like a Board of Directors and provides strategic guidance to CGAP’s operational staff. To facilitate governance among more than 30 member organizations, each member is appointed to a constituency – one for foundations, one for multilateral development banks, one for development finance institutions, and two for bilateral agencies. One representative from each of these five constituencies sits on the ExCom. In addition, four at-large representatives, chosen in their individual capacities for their expertise in financial inclusion, serve on the ExCom. There is also one representative on the ExCom from the World Bank as trustee. Finally, CGAP’s CEO serves on the ExCom, making a total of 11 ExCom members. The ExCom meets at least twice a year in person and its members serve three-year terms, eligible for an additional two years by election.

Carolina Trivelli, Executive Committee Chair

Senior Researcher, Instituto de Estudios Peruanos (IEP)
Former Minister of Development and Social Inclusion, Peru

Juliet Anammah

Chief Executive Officer

Bindu Ananth

Dvara Trust, India

Maha Bahou

Chief Executive Officer
Jordan Payments and Clearing Company (JO-PACC)

Judith Frickenstein

Senior Financial Sector Advisor to BMZ/Global Partnership for Financial Inclusion (GPFI)
Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmBH

Djalal Khimdjee

Deputy Chief Executive Officer
Proparco/Groupe Agence Francaise de Developpement

Jason Lamb

Deputy Director, Global Partner Alignment, Financial Services for the Poor
Bill & Melinda Gates Foundation

Fernando Maldonado

Team Lead, Digital Finance, U.S. Global Development Lab
United States Agency for International Development (USAID)

Xavier Muron

Head, Financial Systems Team
Agence Française de Développement (AFD)

Mahesh Uttamchandani

Practice Manager, Financial Inclusion, Infrastructure & Access
Finance, Competitiveness, and Innovation Global Practice
World Bank

Greta Bull

Chief Executive Officer


The Operational Team is responsible for implementing CGAP’s five-year strategy, the approved annual work plan and budget. Headquartered at the World Bank in Washington D.C., the Operational Team is led by a chief executive officer. The CGAP Operational Team is made up of financial, legal, and development experts from over 25 countries, representing extensive technical experience in the private and public sectors. CGAP has a satellite office in Paris to better serve our European members and be closer to markets we serve. Our staff and consultants are located all over the world, including in Nairobi, Abidjan, Delhi, and Singapore.