Ivanka Under Consideration To Head World Bank

13 January, 2019, 16:42 | Author: Sheila Harris
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The World Bank Board said it would start accepting nominations for a new leader next month and name a replacement for Kim byApril.

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

The selection of the bank's next president could prove to be a test of President Trump's worldwide clout.

"A World Bank president chosen by the Trump administration could, in particular, try to limit its financing of projects meant to tackle climate change, as well as any work that is seen as supporting the building of Chinese infrastructure", the report said. The American lock on the position isn't guaranteed, and the formal process announced Thursday welcomes nominations from other countries.

"The Executive Directors agreed that candidates should be committed to the implementation of the Forward Look and the capital package agreement as articulated in the Sustainable Financing for Sustainable Development Paper", the statement said. The Trump Administration hates everything that The World Bank embodies. Smaller countries share directors.

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Kim was the first American nominee to face a contested election for the World Bank presidency in 2012 and the bank's board has said its selection process will be "open, merit-based and transparent", implying non-US candidates wouldn't be ruled out.

The post has always been held by an American, in a deal that has given the Europeans control at the International Monetary Fund, which means Donald Trump has an opportunity to turn the World Bank into a tool of U.S. imperialism and a weapon in his economic war with China.

In any case, the success of a U.S. candidate is not completely assured. USA officials involved in the process said they expected American efforts to pick Mr. Kim's successor to face even more challenges from the rest of the world.

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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