- Important International institutions, agencies and fora, their structure, mandate.
President of World Bank
What to study?
For Prelims and Mains: Procedure and criteria for the post of President of World Bank, functions.
Context: David Malpass has been appointed as the President of World Bank. He was nominated by the US president Donald Trump.
Appointment of the President of World Bank:
As per the guidelines of the World Bank, the World Bank president must have:
- A proven track record of leadership.
- Experience managing large organizations with international exposure, and a familiarity with the public sector.
- Ability to articulate a clear vision of the Bank’s development mission.
- A firm commitment to and appreciation for multilateral cooperation.
- Effective and diplomatic communication skills, impartiality, and objectivity.
Who can nominate?
Executive directors of the World Bank can nominate candidates for the post and the candidate must be citizens of one of the bank’s member countries and cannot be a bank governor, executive director or alternate.
If there are more than three candidates, there would be a shortlisting process to narrow the field through an informal straw poll. Then the shortlisted candidates will be interviewed by the board. The board will then make a final selection through a majority vote.
Number of votes needed to win:
To win the presidency of the World Bank, a candidate must win approval from the institution’s executive board, which has 25 members. The US holds a 16% share of board voting power hence more often it is the US-backed candidate gets elected for the post of the president.
Sources: the hindu.