Hidalgo worked at the World Bank from 1968 to 1977 where he was upgraded and in 1974 became Chief of Division, with responsibilities over the projects of the World Bank in the 45 Sub-Saharan African countries. He was the youngest person and the first Spaniard occupying that position. He is the founder of FRIDA (Fund for Research and Investment for the Development of Africa) and President of DFC (Development Finance Corporation), from 1977.[6]