Ivanka Trump ‘in run­ning for World Bank pres­i­dency’

The Independent - - World - CHIARA GIOR­DANO

Don­ald Trump’s daugh­ter is re­port­edly one of a hand­ful of peo­ple be­ing con­sid­ered as the new head of the World Bank.

The US pres­i­dent’s el­dest daugh­ter Ivanka Trump has been men­tioned as a pos­si­ble suc­ces­sor to Jim Yong Kim, who stood down ear­lier this week, three and a half years be­fore his term was up.

The sud­den de­par­ture an­nounced ear­lier this week of Mr Kim, who was first ap­pointed by for­mer pres­i­dent Barack Obama in 2011 and re-elected in 2016, means Mr Trump can now choose a suc­ces­sor. Ac­cord­ing to the Fi­nan­cial Times, names be­ing thrown into the mix for the role in­clude Ivanka Trump,

Trea­sury of­fi­cial David Mal­pass, for­mer UN am­bas­sador Nikki Ha­ley and head of the US Agency for In­ter­na­tional De­vel­op­ment Mark Green.

Mr Kim, a for­mer aca­demic and health of­fi­cial, said he was leav­ing the World Bank for a role at a Wall Street pri­vate eq­uity firm that in­volves help­ing the pri­vate sec­tor fi­nance in­fra­struc­ture projects in emerg­ing mar­kets.

The World Bank board said the next pres­i­dent should have a “proven track record of lead­er­ship”, “ex­pe­ri­ence in manag­ing large or­gan­i­sa­tions with in­ter­na­tional ex­po­sure and fa­mil­iar­ity with the pub­lic sec­tor” and “a firm com­mit­ment to and ap­pre­ci­a­tion for mul­ti­lat­eral co­op­er­a­tion”.

His­tor­i­cally, the per­son that the US – the big­gest share­holder – puts for­ward to be con­sid­ered for the role is ap­proved by the board, and the Euro­pean share­hold­ers select some­one to lead the In­ter­na­tional Mon­e­tary Fund. How­ever, this deal has re­ceived in­creas­ing crit­i­cism from coun­tries such as China, which led to the board in­tro­duc­ing a new process in 2011, which prom­ises to be “open, merit-based and trans­par­ent”.

In this process, if there are more than three can­di­dates there will be a short­list­ing process where the board will nar­row the field through an in­for­mal straw poll or vote. The short­listed can­di­dates will be in­ter­viewed by the board be­fore it makes a fi­nal se­lec­tion. It is be­lieved the new pres­i­dent will be­gin a new five-year term once se­lected.

The World Bank, for­merly named the In­ter­na­tional Bank for Re­con­struc­tion and De­vel­op­ment, was founded in 1944 to give loans to help re­build coun­tries dev­as­tated by the Sec­ond World War. To­day, the bank group has long-stand­ing re­la­tion­ships with more than 180 mem­ber coun­tries and helps de­vel­op­ing coun­tries by giv­ing them fund­ing and tech­ni­cal as­sis­tance. Its mis­sion by 2030 in­cludes end­ing ex­treme poverty by de­creas­ing the num­ber of peo­ple liv­ing on less than $1.90 (£1.48) a day to no more than 3 per cent of the global pop­u­la­tion.

Ac­cord­ing to World Bank data, the per­cent­age of peo­ple liv­ing in ex­treme poverty glob­ally fell to a new low of 10 per cent in 2015 – the most re­cent fig­ure avail­able – which was down from 11 per cent in 2013. The num­ber of peo­ple liv­ing on less than $1.90 a day fell dur­ing this pe­riod by 68 mil­lion to a to­tal of 736 mil­lion.

The US pres­i­dent’s daugh­ter has been named as a po­ten­tial suc­ces­sor (AP)

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