WORLD


World Bank board aims to pick next president by early May, U.S. nominee expected soon

World Bank board aims to pick next president by early May, U.S. nominee expected soon

Baku, February 23, AZERTAC

The World Bank's executive board expects to select a new president by early May after last week's news that David Malpass will leave the top job well before his contract ends in April 2024, the bank said in a statement late on Wednesday, according to Economic Times.

The 25-member board, under pressure to reform its operations to respond more aggressively to climate change and other global challenges, met for several hours on Wednesday to finalize its selection criteria and a timeline for the process.

The bank's executive directors affirmed their commitment to an "open, merit-based and transparent selection process" for the new leader, and said countries could nominate candidates beginning Thursday through March 29.

The bank has never had a permanent woman president in its 77-year history, although current International Monetary Fund chief Kristalina Georgieva served as acting president for about two months in early 2019.

The United States, the bank's largest shareholder, which has been pressing for more ambitious and quicker reforms at the bank, could announce its nominee as early as Thursday, two sources familiar with the matter said.

Treasury officials had no immediate comment.

The World Bank board gave a list of criteria and relevant experience for would-be applicants, including "effective communication and diplomatic skills" and also said it "would strongly encourage women candidates to be nominated."

The bank has never had a permanent woman president in its 77-year history, although current International Monetary Fund chief Kristalina Georgieva served as acting president for about two months in early 2019.

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