World Bank begins selection process for new president

12 Janvier, 2019, 05:58 | Auteur: Anatole Charbonneau
  • Ogunlesi Adebayo is the Chairman and Managing Partner at the private equity firm Global Infrastructure Partners. Pic credit

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US President Donald Trump's daughter and adviser Ivanka Trump is reportedly being considered for the position to head the World Bank.

Kim announced Monday he would step down next month, less than halfway through his second five-year term.

A new president selected by Trump could change The World Bank's priorities.

A short list of three candidates is due to be released after the close of the nominating period.

Through an unwritten post-war agreement with Europe, the institution has always been led by an American while a European has always been at the helm of the International Monetary Fund.

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While expressing appreciation to Kim for his leadership of the World Bank Group and the significant accomplishments of the Bank during his tenure, Executive Directors affirmed the board's commitment to an open, merit-based and transparent selection process.

Developing nations also have been increasing the pressure on the institutions to name a leader from an emerging market country.

The World Bank Board said Thursday it would start accepting nominations for a new leader early next month and name a replacement for Kim by mid-April.

The directors also set the deadline for the submission of nominations starting from "February 7 by 9 A.M. Eastern Standard Time (EST) and ending on March 14 by 9 A.M. EST".

Since the announcement, World Bank's CEO, Kristalina Georgieva, was announced as the person to assume the role of the interim president effective February 1.

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