Paschal Donohoe steps down from Government for a role at the World Bank

The announcement comes with Donohoe also set to resign as a Teachta Dála (TD) for Dublin Central later this week.

Beyond his national responsibilities, Donohoe has served as President of the Eurogroup, the informal gathering of euro-area finance ministers.

He was first elected to that role in July 2020, re-elected in December 2022, and confirmed for a third term in July 2025.

His political career spans more than two decades. Donohoe was first elected as a Fine Gael TD for Dublin Central in 2011.

In government, Donohoe has held a range of high-profile portfolios.

He was Minister for Transport, Tourism and Sport between 2014 and 2016, before moving to Public Expenditure and Reform (2016–2020).

He first became Minister for Finance in June 2017 and held that post until December 2022, before returning to the role in January 2025.

As Eurogroup President, Donohoe also chairs the Board of Governors of the European Stability Mechanism.

His new role at the World Bank represents a significant shift from European policymaking to a global development institution.

His experience leading Eurozone finance discussions, and his deep involvement in economic coordination across Europe, could well inform his work in Washington.

* This article was originally published on BusinessPlus.ie.