US WB candidate promises to be open, inclusive

To canvass his candidacy for the World Bank top job, US nominee Jim Yong Kim is promising to make the organisation more inclusive with a larger say for developing nations. Yashwant Raj reports.

To canvass his candidacy for the World Bank top job, US nominee Jim Yong Kim is promising to make the organisation more inclusive with a larger say for developing nations.

HT Image

I want to hear from developing countries, as well as those that provide a big share of the resources to development, about how we can together build a more inclusive, responsive and open World Bank,” Kim said in an op-ed piece released by the treasury on Wednesday.

The South Korea-born president of Dartmouth University was announced as the US nominee by President Barack Obama last week for a job that is going to be his most certainly.

But he is not likely to go unchallenged. A group of African nations has put forward the candidacy of the Nigerian finance minister Ngozi Okonjo-Iweala. India and other emerging nations have been agitating, for instance, to end the unwritten international understanding that gives the US the World Bank top job and Europe the IMF.