The World Bank has officially backed U.S. candidate, Jim Yong Kim as the next World Bank President, the New York Times reports. Dr. Kim, 52 will take over from former World Bank President, Robert Zoellick.
Many Africans were hoping that current Nigerian Finance Minister and former World Bank Managing Director, Dr. Ngozi Okonjo Iweala would clinch the top post. In what seemed to be her conceding defeat earlier today, she had reportedly commented today at the Nicon Luxury Hotel in Abuja, at the presentation of the 2012 budget, that the selection of a World Bank president was not based on merit. “This thing is not really being decided on merit, it is voting with political weights and shares and therefore the U.S. will get it,’’ she said.
However, she stated an important point highlighting that her candidacy sets a good precedence for future candidates from emerging markets.
`We have made the process (for electing the World Bank president) different, it will never ever be the same again. “We have shown that we can contest this thing and Africa can produce people capable of running the entire architecture (of the Bank),’’ she said.
What do you think of the selection of U.S. nominee Jim Yong Kim over Dr. Ngozi Okonjo Iweala as the World Bank President?
Also check out this cartoon on the World Bank’s decision to pick the Jim Yong Kim over Dr. Ngozi Okonjo Iweala.