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World Bank to pick new president by mid-April
13 January 2019, 04:43 | Devin Moran
Ogunlesi Adebayo. Pic credit BuzzNigeria
Possible names are already floating around Washington, including David Malpass, a current top Treasury official on global affairs, Nikki Haley, former ambassador to the UN, Mark Green, head of the US Agency for worldwide Development, and even Ivanka Trump, the president's daughter.
Other considerations to fulfill the role include former ambassador to the UN Nikki Haley and Mark Green, the head of the US Agency for International Development.
The bank said nominations for president would be open to candidates from any member countries from February 7 to March 14, after which the directors will narrow the field to a shortlist of no more than three candidates.
Kim announced Monday he would step down next month, less than halfway through his second five-year term.
Ivanka Trump in 2017 was the driving force behind a $1 billion, Saudi-supported World Bank fund to promote entrepreneurship by women. The World Bank's leader has always been an American, but many countries have been clamoring for the opportunity to pick a bank leader from somewhere else.
The US has the largest voting share of any individual country, at about 16%, but blocs of countries - including the European Union - have larger voting shares.
A spokesperson for the Treasury Department told the Financial Times: "We are beginning the internal review process for a United States nominee".
Following a board meeting on Wednesday, the board of executive directors of the World Bank affirmed its commitment to an "open, merit-based and transparent" selection process, the World Bank said in a statement on Thursday.
"We are beginning the internal review process for an American nominee, and we look forward to working with the governors to elect a new leader", he said.
The Trump administration, which has been wary of and even hostile toward Western-led worldwide institutions like the World Bank, will now be tasked with submitting a recommendation to the bank's board.
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