Business groups pay tribute to Paschal Donohoe ahead of move to World Bank

Business lobby group Ibec called Mr Donohoe's new role as managing director and chief knowledge officer at the World Bank a 'tremendous achievement and a strong endorsement' of his track record

Paschal Donohoe speaking at a press conference at Government Buildings in Dublin after the Finance Minister is to leave his role in Government and take up a position with the World Bank. Picture date: Tuesday November 18, 2025.

Business groups across the country have paid tribute to Paschal Donohoe following his announcement that he would step down as finance minister to take up a senior management position with the World Bank.

Speaking outside Government buildings on Tuesday, the outgoing minister for finance and Dublin Central TD said the opportunity to serve in Government had been the “greatest of honours.” 

He said he will soon take up the role of managing director and chief knowledge officer at the World Bank, and has tendered his resignation from the Government. He will resign from the Dáil later this week.

Mr Donohoe, who was first elected to the Dáil in 2011, said he would continue his public service “in a different way” in his new role at the World Bank.

Reacting to the announcement, Chambers Ireland extended its appreciation and congratulations to Mr Donohoe, with chief executive Ian Talbot noting: “Having worked with Paschal Donohoe continuously since his first Ministerial appointment as Minister for European Affairs, our organisation has seen first-hand his talent and commitment to the economic and social development of the country.

“We commend Mr Donohoe not only for his stewardship during challenging periods, including Brexit and Covid, but also for overseeing a period of exceptional economic growth. Under his guidance, Ireland has navigated global uncertainties while achieving remarkable progress in employment, investment and competitiveness.” Mr Talbot added that Mr Donohoe’s leadership was “instrumental” in positioning Ireland as a resilient and forward-looking economy.

“His experience and vision will contribute greatly to his new role, and we wish him every success,” Mr Talbot concluded.

CEO of business lobby group Ibec Danny McCoy also extended his congratulations to Mr Donohoe, calling his new role at the World Bank a “tremendous achievement and a strong endorsement of his exceptional track record, not only as Minister for Finance and Minister for Public Expenditure and Reform, but also for his decisive leadership and influence as President of the Eurogroup.

“Minister Donohoe has consistently demonstrated a genuine commitment to understanding the needs of business and fostering effective collaboration between Government and employers for the betterment of our economy.” 

Mr McCoy added that the finance minister’s understanding of the business landscape throughout challenging periods like Brexit and the covid pandemic was “critically important” in safeguarding the economy against major shocks.

“We are deeply grateful for his extensive public service and wish him the very best in this important new global role,” Mr McCoy concluded.

Mr Donohoe’s departure will trigger broad changes across senior Government portfolios, with several Fine Gael figures moving into new roles as part of the reshuffle.

Helen McEntee will move to Foreign Affairs and Defence, while Hildegarde Naughton is being promoted to Cabinet as Minister for Education.

Fine Gael TD Emer Higgins will become a super junior minister with responsibility for disabilities, and backbencher Frank Feighan will be appointed a junior minister in the Department of Public Expenditure.